Profits are maximized when
A) price equals marginal revenue.
B) marginal revenue equals average total costs.
C) marginal revenue equals marginal cost.
D) when price equals average total costs.
C
Economics
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Which creates a larger deadweight loss, perfect competition or a single-price monopoly?
What will be an ideal response?
Economics
Figure 10-18
As shown in , and assuming the aggregate demand curve shifts from AD1 to AD2, the full-employment level of real GDP is
a.
$10 billion.
b.
$4 billion.
c.
$100 billion.
d.
unable to be determined.
Economics