Which is always TRUE at a firm's profit-maximizing rate of production?

A) Total Revenue = Total Costs
B) The total revenue curve lies below the total cost curve.
C) Marginal Revenue > Marginal Cost
D) Marginal Revenue = Marginal Cost


Answer: D

Economics

You might also like to view...

Briefly describe orthodox stabilization policies

What will be an ideal response?

Economics

Microprudential supervision does all of the following EXCEPT

A) checking capital ratios of a bank. B) checking a bank's compliance with disclosure requirements. C) assessing the riskiness of an individual bank's activities. D) focusing on financial system liquidity.

Economics

Briefly explain how a natural monopoly arises

Economics

Choose the letter of the diagram in Figure 16.1 that illustrates the effects of supply-side policies designed to increase the capacity of the economy.

A. a. B. b. C. c. D. d.

Economics