As Long as Price Is Greater Than Average Variable Cost,a

question 19

Multiple Choice

As long as price is greater than average variable cost,a firm maximizes its profit by producing that quantity of output for which

• A)average revenue equals average total cost
• B)the price is the highest
• C)marginal revenue equals marginal cost
• D)average total cost is minimized
• E)average variable cost is minimized

---

Definitions:

NLRB

stands for the National Labor Relations Board, a U.S. federal agency that enforces labor law in relation to collective bargaining and unfair labor practices.

Democratic Procedures

Processes that adhere to the principles of democracy, allowing for equal participation and decision-making by all members of a group or organization.

Legal Provisions

Definitions or laws established within a legal system that govern individuals, organizations, and relationships in a society.

Taft-Hartley Act

A federal law enacted in 1947 that restricted the activities and power of labor unions in the United States, formally known as the Labor Management Relations Act.