A Firm Can Maximize Profit (Net Benefit)by Choosing to Produce

question 17

Multiple Choice

A firm can maximize profit (net benefit) by choosing to produce that level of output at which

• A)the difference between the additional revenue from the last unit sold and the additional cost of that unit is maximized.
• B)the additional revenue from the last unit sold equals the additional cost of that unit.
• C)the additional revenue from the last unit sold is just a little more than the additional cost of that unit.
• D)total revenue equals total cost.

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Definitions:

Centralized

Organized such that control or decision-making is concentrated at a single point or within a single organization.

Strategies

Plans of action designed to achieve long-term or overall aims and objectives.

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The tools and applications within social media that you will be using to accomplish your objectives and fulfill your strategies; the nuts and bolts of your social media plan.

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Targets or objectives that individuals or organizations aim to achieve within a specific timeframe.