Profit Is Maximized at the Output at Which Marginal Revenue

question 59

True/False

Profit is maximized at the output at which marginal revenue exceeds marginal cost by the greatest margin.

---

Definitions:

Economic Shifts

Changes in the structure or performance of an economy, often marked by periods of growth or decline, technological innovation, or shifts in consumer behavior.

General Motors

An American multinational corporation headquartered in Detroit that designs, manufactures, markets, and distributes vehicles and vehicle parts.

Sheet Music

Sheet music is a written representation of music, using musical symbols and notes on staves, which musicians read to perform pieces.

Vocational School

An educational institution designed to provide vocational education, or technical skills required to perform the tasks of a particular and specific job.