The profit of a firm is maximized when:
a. marginal revenue is maximum.
b. marginal revenue is greater than marginal cost.
c. marginal revenue is equal to marginal cost.
d. marginal cost is minimum.
e. marginal revenue is less than marginal cost.
c
Economics
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The technique that estimates long-run costs and the minimum efficient scale by determining the scale of operation at which most firms in an industry are concentrated is called the:
A) engineering estimation technique. B) statistical cost estimation technique. C) survivor approach. D) back-of-the-envelope approach.
Economics
Present the case for floating exchange rates
What will be an ideal response?
Economics