The point at which marginal cost and marginal revenue are equal always results in which of the following?
a. maximization of revenue
b. maximization of costs
c. maximization of profits
d. break-even equilibrium
Ans: c. maximization of profits
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The accounts receivable turnover ratio measures ________
A) a company's ability to pay its current liabilities with its current assets B) how many days it takes, on average, to collect receivables C) how many days it takes, on average, to sell the inventory D) the number of times a company collects the average accounts receivable balance in a year
When loaning money to two or more co-borrowers on a single promissory note, the lender would be best advised to increase the security on the note by inserting which of the following phrases after the names of the co-borrowers:
A: Personally and corporately; B: Together as individuals; C: Individually and severally; D: Jointly and severally.