When a Firm Is at a Maximum-Profit Position It Is

question 54

True/False

When a firm is at a maximum-profit position it is also necessarily at a least-cost position.

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Definitions:

Babinski Sign

A reflex action of the toes, where they fan out when the sole of the foot is stimulated, indicating possible neurological damage.

Cerebral Cortex

The outer layer of the cerebrum, involved in various high-level functions such as sensation, voluntary muscle movement, thought, reasoning, and memory.

Oriented

The state of being aware of one's own personal identity, place, time, and situation as a measure of cognitive function.

Cerebellum

A part of the brain located at the back of the skull, vital for coordinating movement and balance.