Author Question: In the short run, the profit maximizing (or minimizing) quantity of output for any firm to produce ... (Read 145 times)

james9437 · **on:** Jun 30, 2018

In the short run, the profit maximizing (or minimizing) quantity of output for any firm to produce exists at that output level at which marginal revenue equals marginal cost.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Total utility is measured by a mythical unit called the:
a. bliss unit.
b. useful unit.
c. pleasure unit.
d. util.