Author Question: A firm will maximize profit at the level of output where: A) its marginal revenue equals total ... (Read 250 times)

jasdeep_brar · **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.