Author Question: When a firm produces at the point where MR = MC, the profit that it is earning is considered to be ... (Read 38 times)

Bob-Dole · **on:** Jul 1, 2018

When a firm produces at the point where MR = MC, the profit that it is earning is considered to be

A) maximum.
B) normal.
C) above normal.
D) Not enough information is provided.

Question 2

Municipalities that have adopted the policy of rent control typically set the rentals on certain apartments well below equilibrium. As a result,

A) landlords have a difficult time finding tenants.
B) prospective tenants have a difficult time finding available apartments.
C) there is a surplus of apartments.
D) All of the above.