A firm reaches a break-even point (normal profit position) where:
A. marginal revenue cuts the horizontal axis.
B. marginal cost intersects the average variable cost curve.
C. total revenue equals total variable cost.
D. total revenue and total cost are equal.
Answer: D
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A subsidy is
A) the revenue received from the government to produce a good or service by a public authority. B) a voucher received by the government from producers of goods and services. C) a payment that the government makes to private producers of goods and services. D) a tax imposed on the producers of certain goods or services. E) a tax imposed on the consumers of certain goods or services.
The United States is divided into ___ Federal Reserve districts
A. 14 B. 12 C. 8
Explain the costs imposed by an increase in inflation
What will be an ideal response?
At a price of $8 per dozen, Chuy sells 40 dozen homemade tamales per week. When he raised his price to $12 per dozen, he still sold 40 dozen per week. Based on this information, the demand for his tamales is
A) perfectly elastic. B) inelastic. C) perfectly inelastic. D) unit elastic.