When a Firm Has Maximized Profits

question 245

Multiple Choice

When a firm has maximized profits

• A) it has also minimized total costs.
• B) the marginal product of each input is also maximized.
• C) the marginal physical product is greater than the input price for all inputs.
• D) its marginal cost is zero.

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Management's Approval

An endorsement or sanction by the managerial level of an organization for a proposal, plan, or action.

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