When Marginal Revenue Is Zero

question 5

Multiple Choice

When marginal revenue is zero:

• A)profit is maximized.
• B)total cost is minimized.
• C)elasticity of demand is zero.
• D)total revenue is maximized.

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Definitions:

Panic Button Effect

The psychological response or relief felt when an individual believes they have an immediate means of escape or help in a stressful situation.

Narcissistic

Characterized by an excessive preoccupation with oneself and an inflated sense of self-importance.

Freelance

A type of employment where individuals work for themselves, taking on contract work from companies or individuals without committing to a single employer.

Intrinsic Motivated

Driven by internal rewards, such as personal satisfaction or joy, rather than external pressures or rewards.