Which of the Following Is True for a Profit-Maximizing Firm

question 170

Multiple Choice

Which of the following is true for a profit-maximizing firm in a competitive market?

• A)Marginal cost is greater than marginal revenue and price.
• B)Marginal cost is greater than marginal revenue but less than price.
• C)Marginal cost is less than marginal revenue but higher than price.
• D)Marginal cost equals price but is less than marginal revenue.
• E)Marginal cost equals marginal revenue and price.

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Definitions:

Corpus Callosum

A wide band of nerve fibers connecting the two hemispheres of the brain, facilitating communication between them.

Hypothalamus

A section of the brain responsible for hormone production and regulation of essential bodily functions, including temperature, mood, and hunger.

Cerebellum

A part of the brain located at the back and lower part of the skull, essential for coordination, precision, and accurate timing of movements.

Thalamus

A structure in the brain that acts as a relay station for sensory information, directing messages to the sensory receiving areas in the cortex and elsewhere.