Multiple Choice
The optimal number of units to produce is best expressed when:
A) marginal benefit exceeds marginal cost
B) marginal cost exceeds marginal benefit
C) marginal benefit and marginal cost are close to equal
D) both a and c
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q6: The difference between economic profit and accountant's
Q56: Firms need to know the shape of
Q76: If marginal profit is zero, then average
Q91: Economists and accountants have very different definitions
Q98: Regarding the relationship between marginal profit and
Q118: Many large universities rent out parts of
Q123: Assume that you have taken over management
Q125: The average revenue curve can also be
Q129: Most business people calculate marginal cost and
Q153: If a profit-maximizing firm's fixed cost of