For a syrup producer in central Vermont, profit is maximized at the level of output for which total
A) revenue exceeds total cost by the largest amount.
B) revenue exceeds total cost by the smallest amount.
C) revenue is maximized.
D) cost is minimized.
E) revenue equals total cost.
A
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The five most important variables that determine the level of ________ are disposable income, wealth, expected future income, price level, and interest rate
A) consumption B) government purchases C) net exports D) planned investment
If banks faced a 100 percent reserve requirement, a $10,000 addition to banking reserves would increase the money supply by:
a. $100 b. $1,000. c. $10,000. d. $100,000.
Suppose you put $500 into a bank account today. Interest is paid annually and the annual interest rate is 5.5 percent. The future value of the $500 is
a. $637.50 after 5 years and $822.09 after 10 years. b. $637.50 after 5 years and $775.00 after 10 years. c. $653.48 after 5 years and $854.07 after 10 years. d. $688.36 after 5 years and $915.56 after 10 years.
Simple majority rule will almost always generate efficient outcomes
Indicate whether the statement is true or false