The Optimal Number of Units to Produce Is Best Expressed

question 77

Multiple Choice

The optimal number of units to produce is best expressed when

• A)marginal benefit exceeds marginal cost.
• B)marginal cost exceeds marginal benefit.
• C)marginal benefit and marginal cost are close to equal.
• D)marginal benefit and marginal cost are equal to zero.

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Definitions:

Executive Summary

One- to two-page snapshot of what the overall business plan explains in detail.

Business Incubator

Local programs designed to provide low-cost shared business facilities to small start-up ventures.

Small Business Investment Companies (SBICs)

Privately owned and managed investment funds that are licensed and regulated by the SBA, providing capital to small businesses.

Government Loans

Financial aid provided by the government to individuals, businesses, or other organizations, often with more favorable terms than private loans.