Firms are assumed to
a. maximize profit per unit of output
b. maximize total revenue
c. maximize assets
d. produce at the lowest point on their average total cost curve
e. maximize profit
E
Economics
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Marginal profit is negative when:
A) marginal revenue is negative. B) total cost exceeds total revenue. C) output exceeds the profit-maximizing level. D) profit is negative.
Economics
Researcher Terry Anderson claims that with respect to the supply of water, trading it would be
a. wrong and counter-productive. b. essentially impossible due to lack of technologies to move the water. c. highly productive and bring cooperation among the traders. d. a problem, since monopolists would come to own too much.
Economics