Assume that a firm is able to cover its variable costs if it operates in the short run. If marginal cost equals $0 for all output levels, then the firm's profit-maximizing output level occurs where
a. total cost is minimized
b. marginal revenue is maximized
c. marginal revenue is minimized
d. marginal revenue equals $0
e. total revenue is minimized
D
You might also like to view...
The ________ the sale of an additional unit of a product is a marginal benefit to the firm
A) total value of B) revenue received from C) sales tax on D) extra cost of
Aid is considered "tied" when it is
a. provided for restricted purposes b. required to be used for purchases from the donor country c. provided in exchange for the recipient's support in the United Nations d. required to be used solely for either public or private projects e. none of the above
As part of the "exchange rate effect of monetary policy," a lower money supply causes __________ of the domestic currency and thus __________ net exports
A) appreciation; rising B) appreciation; falling C) depreciation; rising D) depreciation; falling
Under __________ a borrower gets advance approval from the SEC to issue securities up to a certain amount at an unspecified time in the future
A) advance registration B) pre-registration C) guaranteed registration D) shelf registration