Author Question: The profit maximizing or loss minimizing quantity of output for any firm to produce exists at that ... (Read 91 times)

joblessjake · **on:** Jun 30, 2018

The profit maximizing or loss minimizing quantity of output for any firm to produce exists at that output level in which:
a. total revenue is maximized.
b. total cost is minimized.
c. marginal cost is minimized.
d. marginal revenue equals marginal cost.

Question 2

If the cross-elasticity of demand for two goods is positive, this means that the goods are:
a. normal goods.
b. inferior goods.
c. substitutes.
d. complements.