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Use the Following to Answer Question(s)

Question 218

Multiple Choice

Use the following to answer question(s) :
Exhibit: Total Revenue, Total Cost, and Economic Profit
Use the following to answer question(s) :  Exhibit: Total Revenue, Total Cost, and Economic Profit    -(Exhibit: Total Revenue, Total Costs, and Economic Profit)  The firm maximizes economic profit when the _______ of the total revenue and total cost curves are _______ and when _______ and ________ are equal. A)  slopes; as far apart as possible; marginal revenue; marginal cost B)  quantities; equal; marginal product; marginal cost C)  slopes; equal; marginal revenue; marginal cost D)  slopes; equal; marginal revenue; marginal product
-(Exhibit: Total Revenue, Total Costs, and Economic Profit) The firm maximizes economic profit when the _______ of the total revenue and total cost curves are _______ and when _______ and ________ are equal.


A) slopes; as far apart as possible; marginal revenue; marginal cost
B) quantities; equal; marginal product; marginal cost
C) slopes; equal; marginal revenue; marginal cost
D) slopes; equal; marginal revenue; marginal product

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