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 214 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
Gracias!

yeungji

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Common sites of amputation. (A) Upper extremities. (B) Lower extremities. The surgeon determines th Common sites of amputation. (A) Upper extremities. (B) Lower extremities. The surgeon determines th
Sea Level during the Last Glaciation Sea Level during the Last Glaciation
Surface Fronts and Upper-Level Patterns: Cold Fronts and the Formation of Upper-Level Troughs Surface Fronts and Upper-Level Patterns: Cold Fronts and the Formation of Upper-Level Troughs
Profit-maximizing Chart Profit-maximizing Chart
Projections of global temperature depend heavily on the level of future greenhouse gas emissions Projections of global temperature depend heavily on the level of future greenhouse gas emissions
Consider a two-period economy with no investment opportunities: first and second period output ... Consider a two-period economy with no investment opportunities: first and second period output ...
Video: Electromagnetic Spectrum, Chlorophyll and Pigment & Light

For a complete list of videos, visit our video library