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.

Analyze the effectiveness of strategic focuses, such as quality online customer service, in gaining a competitive edge.

Understand strategy types used by organizations in compensation and growth contexts.

Appreciate the importance of strategic HR planning in achieving organizational goals and competitive advantage.

Acknowledge the role of human resources in creating competitive advantage and the importance of human capital.

---

Definitions:

Multiple-Step Income Statement

An income statement that separates operational revenues and expenses from non-operational ones to calculate net income.

Single-Step Income Statement

A simplified income statement that summarizes revenues and expenses in a single step, without categorizing them.

Sales Revenue

Financial income derived from transactions involving the sale of products or provision of services over an interval of time.

Gross Profit Rate

The ratio of gross profit to total sales, indicating the percentage of revenue that exceeds the cost of goods sold.