Multiple Choice
For a certain firm,the 100th unit of output that the firm produces has a marginal revenue of $10 and a marginal cost of $7.Which statement best explains the firm's profit-maximizing decision
A) The production of the 100th unit of output increases the firm's profit by $3.
B) The production of the 100th unit of output increases the firm's average total cost by $7.
C) The firm's profit-maximizing level of output is less than 100 units.
D) The firm is maximizing profits at the 100th unit of output.
Correct Answer:
Verified
Correct Answer:
Verified
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