The marginal approach to profit
a. says that a firm should take any action that adds more to cost than it adds to revenue
b. says that a firm should take any action that adds more to revenue than it adds to cost
c. says that a firm should strive to set profit equal to zero.
d. says that a firms profit is maximized when average revenue equals average cost
e. says that profit should be marginalized
B
You might also like to view...
Most of the Fed's assets are held in the form of loans to its member banks
a. True b. False Indicate whether the statement is true or false
Arrange the following topics into lists of microeconomic and macroeconomic topics: - wages of textile workers - cost of producing 10,000 bookcases - the economy's annual growth rate - national demand for fish - the unemployment rate - the gold futures market - money supply - projected inflation rate next year
A. Microeconomics: wages of textile workers, the unemployment rate, cost of producing 10,000 bookcases, the gold futures marketMacroeconomics: the economy's annual growth rate, money supply, national demand for fish, projected inflation rate next year B. Microeconomics: wages of textile workers, cost of producing 10,000 bookcases, the economy's annual growth rate, unemployment rateMacroeconomics: national demand for fish, the gold futures market, money supply, projected inflation rate next year C. Microeconomics: wages of textile workers, cost of producing 10,000 bookcases, the gold futures market, national demand for fishMacroeconomics: the economy's annual growth rate, the unemployment rate, money supply, projected inflation rate next year D. Microeconomics: the economy's annual growth rate, the unemployment rate, money supply, projected inflation rate next yearMacroeconomics: wages of textile workers, cost of producing 10,000 bookcases, the gold futures market, national demand for fish