Author Question: According to economic theory, profits are maximized where A) total revenue equals total cost. B) ... (Read 112 times)

ghost! · **on:** Jun 30, 2018

According to economic theory, profits are maximized where
A) total revenue equals total cost.
B) marginal revenue equals marginal cost.
C) price and average cost are equal.
D) where marginal product and average cost are equal.

Question 2

International comparisons of income inequality indicate that the degree of inequality is greatest in:
a. developing countries.
b. developed countries.
c. countries with a homogeneous population.
d. the United States.