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

Author Question: Profit is maximized when which of the following conditions occurs? a. Total revenue equals total ... (Read 49 times)

Themember4

  • Hero Member
  • *****
  • Posts: 538
on: Jun 30, 2018
Profit is maximized when which of the following conditions occurs?
 a. Total revenue equals total cost.
  b. Average revenue equals average cost.
  c. Marginal revenue equals marginal cost.
  d. Both b. and c. above are correct.

Question 2

For which of the following medical goods or services is the income elasticity of demand largest?
 a. Emergency services after a car accident.
  b. Measles shots.
  c. Physical examinations for life insurance applications.
  d. Medical tests to diagnose specific symptoms.
  e. Face-lifts.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aham8f

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

e


Themember4

  • Member
  • Posts: 538
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

bblaney

  • Member
  • Posts: 323
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Gas exchange occurs at the alveolar capillary membrane. Gas exchange occurs at the alveolar capillary membrane.
Total hip prosthesis. Total hip prosthesis.
Interventions for Selected Co-Occurring Conditions Interventions for Selected Co-Occurring Conditions
Various types of integumentary conditions. (G) Burn, second degree. Various types of integumentary conditions. (G) Burn, second degree.
A company that makes environmental measuring devices has calculated their revenue and costs as ... A company that makes environmental measuring devices has calculated their revenue and costs as ...
Postreplication repair occurs if DNA replication Postreplication repair occurs if DNA replication
Video: Bone elongation - processes at the epiphyseal plate

For a complete list of videos, visit our video library