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Author Question: The point of maximum profit for a business firm is where: a. P = AC. b. TR = TC. c. MR = AR. d. ... (Read 73 times)

jwb375

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on: Jun 30, 2018
The point of maximum profit for a business firm is where:
 a. P = AC.
  b. TR = TC.
  c. MR = AR.
  d. MR = MC.
  e. TR = MR.

Question 2

If a 1 percent decrease in the price of product A brings about a 3 percent increase in the sales of product B, then:
 a. products A and B are complementary.
  b. the cross elasticity of demand between these two products is positive.
  c. products A and B are substitutes.
  d. the demand for these products is inelastic.
  e. the total revenue earned from product A will decrease.


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Yixagurpuldink

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


jwb375

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  • Posts: 540
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

softEldritch

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  • Posts: 334
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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