Micro Unit 3.5-Profit Max Video Choice
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Last updated over 1 year ago
10 questions
1
When TR=TC, the economic profit is...
When TR=TC, the economic profit is...
1
When TC>TR, then there is...
When TC>TR, then there is...
1
Positive economic profit exists when TR>TC.
Positive economic profit exists when TR>TC.
1
When selecting a quantity to produce, a firm should select the quantity that....
When selecting a quantity to produce, a firm should select the quantity that....
1
For maximum profit the firm will choose a quantity where the vertical distance between TR and _______ is at its greatest with _______ being higher OR where MR=_______ .
Other Answer Choices:
MC
TC
TR
1
What is the profit maximizing rule?
What is the profit maximizing rule?
1
What is the profit maximizing quantity?
What is the profit maximizing quantity?
1
What is the total revenue at the quantity of profit max?
What is the total revenue at the quantity of profit max?
1
How much profit does the firm have at the quantity of profit max?
How much profit does the firm have at the quantity of profit max?
1
What is the formula for Total Profit?
What is the formula for Total Profit?