This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A firm will maximize profit at the level of output where: A) its marginal revenue equals total ... (Read 252 times)

jasdeep_brar

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
A firm will maximize profit at the level of output where:
 
  A) its marginal revenue equals total cost.
  B) its marginal revenue equals marginal cost.
  C) its total cost equals total revenue.
  D) its average revenue equals average cost.

Question 2

Which of the following would be included in the total costs of production when an entrepreneur tries to compute her economic profit?
 
  A) Foregone wages
  B) Foregone interest
  C) Foregone rent
  D) All of the above.
  E) None of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

macagnavarro

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


jasdeep_brar

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
:D TYSM

shewald78

  • Member
  • Posts: 340
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

An analogy for how cardiac output, resistance, and blood pressure are related. An analogy for how cardiac output, resistance, and blood pressure are related.
Single-gene inheritance tracked at the DNA level Single-gene inheritance tracked at the DNA level
Solar output Solar output
Rising sea level: Some areas will be affected by a rise of just 40 cm Rising sea level: Some areas will be affected by a rise of just 40 cm
Kyoto Protocol encourages industry to innovate and reduce the level of emissions Kyoto Protocol encourages industry to innovate and reduce the level of emissions
Agricultural Land as a Fraction of Total Wealth in the United Kingdom Agricultural Land as a Fraction of Total Wealth in the United Kingdom
Video: Hemoglobin's affinity with oxygen - carbon dioxide, temperature and bisphosphoglycerate (BPG)

For a complete list of videos, visit our video library