Economic profits are maximized at the point at which
A) marginal revenues equal marginal costs.
B) accounting profit exceeds economic profit.
C) total revenues are greater than total costs.
D) accounting profits are equal to zero.
A
You might also like to view...
Based on the following information, what is the balance on the financial account?
Exports of goods and services = $5 billion Imports of goods and services = $3 billion Net income on investments = -$2 billion Net transfers = -$2 billion Increase in foreign holdings of assets in the United States = $4 billion Increase in U.S. holdings of assets in foreign countries = -$1 billion A) $3 billion B) $2 billion C) $1 billion D) -$1 billion
Which of the following is FALSE? All the BRICs
A) rank among the world's top 10 in population. B) have been transformed by reforms. C) have become more isolated and focused on domestic issues. D) are among the world's top 11 economies. E) have yet to fully realize their economic potential.