If a firm equates MR and MC, then: a. TR is at a maximum, and TC ...

[neverstopbelieb]

If a firm equates MR and MC, then:
 a. TR is at a maximum, and TC is at a minimum.
  b. output is at a maximum.
  c. losses are at a maximum.
  d. profits are at a maximum or losses are at a minimum.
  e. both TR and TC are at a maximum.

Question 2

An increase in the price of good X causes the demand for good Y to shift inward. One can conclude that X and Y are:
 a. complements.
  b. substitutes.
  c. unrelated goods.
  d. normal goods.
  e. exceptions to the law of demand.

[briezy]

Answer to Question 1

d

Answer to Question 2

a

[neverstopbelieb]

Excellent

[laurnthompson]

TYSM