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

Author Question: The profit maximizing or loss minimizing quantity of output for any firm to produce exists at that ... (Read 89 times)

joblessjake

  • Hero Member
  • *****
  • Posts: 555
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kdiggy

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


joblessjake

  • Member
  • Posts: 555
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

How genes produce proteins that determine traits in a simple dominant-recessive relationship. How genes produce proteins that determine traits in a simple dominant-recessive relationship.
A model of anxiety in which stressful events or a changing mental condition can produce unfavorable A model of anxiety in which stressful events or a changing mental condition can produce unfavorable
The Procedure Used to Produce Conditioned Emotional Responses The Procedure Used to Produce Conditioned Emotional Responses
An AC voltage is produced by a magnetic sensor. Most sensors should produce at least 0.1 volt AC ... An AC voltage is produced by a magnetic sensor. Most sensors should produce at least 0.1 volt AC ...
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
How to calculate the gain and loss gene numbers with low bootstrap of phylogenetic tree? How to calculate the gain and loss gene numbers with low bootstrap of phylogenetic tree?
Video: Central Nervous System Animation

For a complete list of videos, visit our video library