QuantityTotal Cost0$01$202$453$754$110 Consider the cost function above. If the marginal revenue this business faces is $25, how much output should this business produce in order to maximize profit?
A. Zero units
B. Three units
C. Two units
D. Four units
Answer: C
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Goods market equilibrium in the open economy occurs when
A) desired saving equals desired investment. B) output equals desired consumption plus desired investment plus government spending. C) desired consumption equals desired investment. D) desired saving minus desired investment equals net exports.
Refer to Scenario 17.3. If there is no insurance and no fire protection program in place, the expected loss from fire for this company is
A) $0. B) $300. C) $3,000. D) $6,000. E) $300,000.
For the purpose of calculating GDP, investment is spending on
a. stocks, bonds, and other financial assets. b. real estate and financial assets such as stocks and bonds. c. capital equipment, inventories, and structures, including household purchases of new housing. d. capital equipment, inventories, and structures, excluding household purchases of new housing.
Which statement is true?
A. Both the Taft-Hartley and Wagner Acts are viewed as pro-labor. B. Both the Taft-Hartley and Wagner Acts are viewed as anti-labor. C. The Taft-Hartley Act is viewed as pro-labor and the Wagner Act is viewed as anti-labor. D. The Taft-Hartley Act is viewed as anti-labor and the Wagner Act is viewed as pro-labor.