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Author Question: If a firm equates MR and MC, then: a. TR is at a maximum, and TC is at a minimum. b. output is at ... (Read 85 times)

neverstopbelieb

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If a firm equates MR and MC, then:
 a. TR is at a maximum, and TC is at a minimum.
  b. output is at a maximum.
  c. losses are at a maximum.
  d. profits are at a maximum or losses are at a minimum.
  e. both TR and TC are at a maximum.

Question 2

An increase in the price of good X causes the demand for good Y to shift inward. One can conclude that X and Y are:
 a. complements.
  b. substitutes.
  c. unrelated goods.
  d. normal goods.
  e. exceptions to the law of demand.



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briezy

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Answer to Question 1

d

Answer to Question 2

a




neverstopbelieb

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


laurnthompson

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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