To Maximize Total Profit from a Particular Activity,consumers and Firms

question 153

Multiple Choice

To maximize total profit from a particular activity,consumers and firms evaluate each activity at the:

• A)average.
• B)top.
• C)margin.
• D)end.

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Definitions:

Function

In the field of mathematics, a relation is a connection between a set of inputs and a possible set of outputs where every input corresponds to precisely one output.

Parabola

A symmetrical plane curve formed by the set of all points equidistant from a fixed point (focus) and a fixed straight line (directrix).

Upward

Directed or moving towards a higher place or position.

Downward

Describes the direction that is towards a lower position or level.