A Firm Can Maximize Profits in the Short Run by Producing

question 8

Multiple Choice

A firm can maximize profits in the short run by producing output where

• A)MC = MR and the MC curve crosses the MR curve from above (as long as P>AVC)
• B)TC = TR
• C)MR - MC = TR - TC
• D)MC = MR and the MC curve crosses the MR curve from below (as long as P>AVC)
• E)TR = TC and the TC curve crosses the TR curve from below

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Definitions:

Sheep

Domesticated ruminant mammals, typically bred for their wool, meat, and milk.

RNAi

A biological process in which RNA molecules inhibit gene expression or translation by neutralizing targeted mRNA molecules.

mRNA Strand

A single-stranded molecule in cells that carries codes from the DNA in the nucleus to sites of protein synthesis in the cytoplasm.

Ribosome

Site of protein synthesis in a cell; composed of proteins and ribosomal RNA (rRNA).