The rate of production that maximizes the positive difference between total revenues and total costs is the
A) profit-maximizing rate of production.
B) rate of production at which marginal revenue equals marginal product.
C) rate of production at which marginal revenue equals average revenue.
D) rate of production at which average revenue equals average total cost.
Answer: A
Economics
You might also like to view...
Determine the required scope of work:
What will be an ideal response?
Economics
Which of the following are TRUE regarding "positive" statements? I. They describe what "ought to be." II. They describe what is believed about how the world appears. III. They can be tested as to their accuracy
A) I and II B) II and III C) I and III D) I, II and III
Economics