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 32 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
YES! Correct, THANKS for helping me on my review

TheDev123

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

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.
The output on this alternator is printed on a label. The output on this alternator is printed on a label.
Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact. Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
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 ...
The Body's Response to Blood Loss The Body's Response to Blood Loss
Video: Coronary Heart Disease

For a complete list of videos, visit our video library