The point of maximum profit for a business firm is where: a. P = ...

[jwb375]

The point of maximum profit for a business firm is where:
 a. P = AC.
  b. TR = TC.
  c. MR = AR.
  d. MR = MC.
  e. TR = MR.

Question 2

If a 1 percent decrease in the price of product A brings about a 3 percent increase in the sales of product B, then:
 a. products A and B are complementary.
  b. the cross elasticity of demand between these two products is positive.
  c. products A and B are substitutes.
  d. the demand for these products is inelastic.
  e. the total revenue earned from product A will decrease.

[Yixagurpuldink]

Answer to Question 1

d

Answer to Question 2

a

[jwb375]

YES! Correct, THANKS for helping me on my review

[chjcharjto14]

Thanks for the timely response, appreciate it