If Total Profit Is Maximized, Then Marginal Cost Must Equal

question 65

True/False

If total profit is maximized, then marginal cost must equal marginal revenue.

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Definitions:

Development of Capitalism

The historical process and economic system changes that led to the emergence and expansion of capitalism, characterized by private property, market economy, and profit motive.

Max Weber

A German sociologist, philosopher, and political economist whose works are fundamental to the modern field of sociology, known for his ideas on the Protestant ethic and the development of capitalism.

Feminism

A movement for gender equality, advocating for women's rights on the grounds of political, social, and economic equality to men.

Religion

A set of beliefs, practices, and moral values that involves the worship of a higher power or supernatural being(s).