To maximize total revenue
A) should produce where MR=MC.
B) should produce where MR=P.
C) a firm should produce where MR=0.
D) should produce where P=ATC.
C
Economics
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A consumer's optimal choice occurs when the
a. consumer's valuation of the two goods equals the market's valuation of the two goods. b. consumer minimizes her expenditures. c. consumer attains the highest indifference curve. d. consumer's valuation of the two goods exceeds the market's valuation of the two goods.
Economics
Figure 10-4
Figure 10-4 shows the industry's supply and demand curves in panel (1) and the cost curves of a firm in the industry in panel (2). At S3, the firm is
a.
going to shut down.
b.
incurring losses.
c.
earning zero economic profits.
d.
earning economic profit greater than zero.
Economics