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

Author Question: A firm will maximize profit at the level of output where: A) its marginal revenue equals total ... (Read 129 times)

jasdeep_brar

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
A firm will maximize profit at the level of output where:
 
  A) its marginal revenue equals total cost.
  B) its marginal revenue equals marginal cost.
  C) its total cost equals total revenue.
  D) its average revenue equals average cost.

Question 2

Which of the following would be included in the total costs of production when an entrepreneur tries to compute her economic profit?
 
  A) Foregone wages
  B) Foregone interest
  C) Foregone rent
  D) All of the above.
  E) None of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

macagnavarro

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


jasdeep_brar

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

yeungji

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

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?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

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?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

The energy input and output of glycolysis. The energy input and output of glycolysis.
During a total solar eclipse, the solar corona can be seen with the naked eye, during the brief peri During a total solar eclipse, the solar corona can be seen with the naked eye, during the brief peri
Many U.S. regions under threat due to changes in sea level Many U.S. regions under threat due to changes in sea level
Total Fertility Rate in the United States, 1860–2008 Total Fertility Rate in the United States, 1860–2008
Total Fitness and Wellness, Brief Edition, 4th Edition Total Fitness and Wellness, Brief Edition, 4th Edition
Keeping your feelings to yourself may increase your stress level Keeping your feelings to yourself may increase your stress level
Video: Homeostasis (range of body conditions, normal limits, mild stresses & severe stresses)

For a complete list of videos, visit our video library