The break-even level out output occurs for a business when
A) Marginal cost equals marginal revenue. B) Average revenue equals marginal revenue.
C) Marginal revenue equals average total cost. D) Average revenue equals average variable cost.
Answer: C
Economics
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If long-run average total cost decreases as output increases, this is due to:
A. Declining average fixed costs B. The law of diminishing returns C. Economies of scale D. Externalities
Economics
What does cross elasticity of demand between goods reveal about the nature of relationship between them?
What will be an ideal response?
Economics