In order to maximize profits in the short run, a firm should produce where
a. marginal revenue exceeds marginal cost by the greatest amount.
b. marginal cost is minimized.
c. average total cost is minimized.
d. marginal cost equals marginal revenue.
d
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Most of the pressure for a monetary growth rule has disappeared because since 1980,
A) the relationship between movements in the money supply and movements in real GDP and the price level have become much weaker. B) the relationship between movements in the money supply and movements in real GDP and the price level have become much stronger. C) the relationship between movements in interest rates and movements in real GDP and the price level have become much weaker. D) the relationship between movements in interest rates and movements in real GDP and the price level have become much stronger.
Average cost pricing is found
A. when supply equals demand. B. when AC = MR. C. when P = 0. D. where AC = AR.