Assuming Price Is Greater Than Average Variable Cost in the Short-Run

question 54

Multiple Choice

Assuming price is greater than average variable cost in the short-run and that at higher output levels marginal revenue is less that marginal cost, the firm will maximize profit if:

• A) marginal revenue is maximized.
• B) marginal cost is minimized.
• C) marginal profit is maximized.
• D) marginal revenue is equal to marginal cost.
• E) total revenue is equal to total cost.

---

Definitions:

Secondary Group

A larger, more impersonal group that usually has specific goals, involving formal, impersonal relationships among its members.

Emotional Support

Refers to the assistance, comfort, and reassurance provided to individuals to help them cope with stress, emotional distress, or trauma.

Personal Network

The web of social relationships that surround an individual, including friends, family, and acquaintances.

Job Listing

An advertisement or announcement of a job opening, describing the position, requirements, and how to apply.