The point of maximum profit for a business firm is where:
a. P = AC.
b. TR = TC.
c. MR = AR.
d. MR = MC.
e. TR = MR.
d
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The opportunity cost of a new football stadium is the:
In 2001, Greece had a per-capita GDP ________ percent lower than Netherlands' per-capita GDP.
A. 20 B. 40 C. 30 D. 50
If a country with high unemployment, a balance of payments deficit, and fixed exchange rates decides to abandon its fixed exchange rate and allow its exchange rate to float, which among the following will be a probable effect?
A. Its currency will appreciate, decreasing international competitiveness and leading to a worsening of the current account. B. Its currency will depreciate, decreasing international competitiveness and leading to an improvement in the current account. C. Its currency will appreciate, increasing international competitiveness and leading to an improvement in the current account. D. Its currency will depreciate, increasing international competitiveness and leading to an improvement in the current account.
Landon increases his consumption of Good X and Good Y when his income increases. For Landon
A. Good X and Good Y are substitute goods. B. Good X and Good Y are complement goods. C. Good X and Y are normal goods D. Good X is an inferior good.