-At What Level of Output Does Marginal Cost Equal Marginal

question 35

Multiple Choice

-At what level of output does marginal cost equal marginal revenue?

• A)10.
• B)20.
• C)30.
• D)40.

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Definitions:

Optimum

The most favorable condition or level for growth, reproduction, or efficiency.

Minimize

The act of making something as small or as insignificant as possible.

Optimum

The condition or degree of an outcome that is most favorable or efficient for a specific purpose.

Maximize

To increase to the greatest possible amount or degree, often used in the context of optimizing performance, efficiency, or profits.