When a profit maximizing firm produces, they will be producing at that output at which marginal cost = marginal revenue
A. all of the time.
B. some of the time.
C. on rare occasions.
D. none of the time.
A. all of the time.
You might also like to view...
If the center nation operates under a cooperative peg agreement, how does the cooperation work?
A) The home nation will try to resist any changes coming from the center. B) The home nation will accept all changes coming from the center without discussion. C) The center nation will make policy concessions to other nations in its cooperative currency agreement. D) Cooperation usually does not work well.
An increase in a retailer's "overhead expenses"
A) compels the retailer to raise prices. B) enables the retailer to raise prices. C) makes it profitable for the retailer to raise prices. D) does not in itself make higher prices necessary, possible, or profitable.