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
D
You might also like to view...
Which of the following will shift the supply curve for USB flash drives to the right?
A. an increase in the number of sellers B. an increase in consumers' incomes C. an increase in the cost of resources used to manufacture USB flash drives D. an increase in the number of buyers
Use the economic way of thinking to complete the following statement: An entrepreneur who owns his own building
A) enjoys the building as a free good. B) sacrifices rental income he could have been earned on the building. C) enjoys lower costs than other entrepreneurs who choose to rent buildings from others. D) enjoys larger economic profits compared to other entrepreneurs who choose to rent buildings from others.
The ways to address agency costs include all EXCEPT
a. running background checks on prospective employees b. requiring employees to punch time clocks c. spot checks of the quality of employee's work d. providing better coffee machines in the lunch room
Along the intermediate range of the aggregate supply curve, an increase in the aggregate demand curve will increase:
a. both the price level and real GDP. b. only real GDP. c. only the price level. d. real GDP and reduce the price level.