« previous next »

Author Question: The marginal approach to profit maximization means that a firm should produce until: a. marginal ... (Read 72 times)

clmills979

  • Hero Member
  • *****
  • Posts: 551
on: Jun 30, 2018
The marginal approach to profit maximization means that a firm should produce until:
 a. marginal revenue equals zero.
  b. marginal revenue equals marginal cost.
  c. marginal cost becomes negatively sloped.
  d. marginal revenue equals price.
  e. price equals average total cost.

Question 2

As cities prospered and per-capita incomes increased, the demand for bus travel diminished. This suggests that:
 a. cities could raise revenue by increasing bus fares.
  b. the demand for bus travel is price elastic.
  c. bus travel and automobile travel are complements.
  d. bus travel is an inferior good.


mirabriestensky

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

The experimental approach used by Masui and Markert to identify cyclin and cyclin-dependent kinase ( The experimental approach used by Masui and Markert to identify cyclin and cyclin-dependent kinase (
A guanacaste tree, Enterolobium cyclocarpum, growing in Costa Rica. Guanacaste trees, which produce A guanacaste tree, Enterolobium cyclocarpum, growing in Costa Rica. Guanacaste trees, which produce
The Means and Extremes of a Proportion The Means and Extremes of a Proportion
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Math for Business and Finance: an Algebraic Approach, 3rd Edition Jeffrey Slater Math for Business and Finance: an Algebraic Approach, 3rd Edition Jeffrey Slater
Video: Dorsal Recumbent Position

For a complete list of videos, visit our video library