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Author Question: The profit maximizing or loss minimizing quantity of output for any firm to produce exists at that ... (Read 53 times)

joblessjake

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on: Jun 30, 2018
The profit maximizing or loss minimizing quantity of output for any firm to produce exists at that output level in which:
 a. total revenue is maximized.
  b. total cost is minimized.
  c. marginal cost is minimized.
  d. marginal revenue equals marginal cost.

Question 2

If the cross-elasticity of demand for two goods is positive, this means that the goods are:
 a. normal goods.
  b. inferior goods.
  c. substitutes.
  d. complements.


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Kdiggy

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


joblessjake

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

lcapri7

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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