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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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9 years ago
If we know the amount of total cost, average total cost, average variable cost, and marginal cost for each level of output, how can we find the level of output where the marginal product is the greatest?
A) It is the output for which the marginal cost equals average variable cost.
B) It is the output for which the total cost is maximized.
C) It is the output for which the marginal cost is minimized.
D) It is the output for which the marginal cost equals average total cost.
E) There is no way to find where marginal product is the greatest knowing only cost data.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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Chimelo46Chimelo46
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8 years ago
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8 years ago
Glad to help you, and good luck with your course.
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