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wrightjb wrightjb
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5 years ago

Question 1.

If revenue is less than ________, profit is ________.



▸ total cost; negative

▸ total fixed cost; positive

▸ total variable cost; zero

▸ total cost; positive

Question 2.

Marginal revenue equals marginal cost at an output of 10 units. At this output, marginal revenue equals $25, average variable cost equals $30, and average total cost equals $40. In the short run, a profit-maximizing firm will earn a profit of



▸ -$150.

▸ -$100.

▸ $0.

▸ $150.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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abonaccorso1abonaccorso1
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