If Marginal Revenue and Marginal Cost Are Not Equal, Profit

question 158

Multiple Choice

If marginal revenue and marginal cost are not equal, profit can be maximized by

• A)increasing output if MR > MC.
• B)decreasing output if MC > MR.
• C)moving to the output where the slopes of TR and TC are equal.
• D)All of the above are correct.

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Definitions:

Service

Activities or functions that are provided to meet the needs of customers or clients, often in exchange for payment.

Personal Attack

A personal attack involves criticizing or demeaning someone on a personal level rather than addressing the argument or the issue at hand.

"Nice" Customer

refers to a consumer who is particularly pleasant, agreeable, or easy to serve in a business context.

Impossible Customer Requests

Requests from customers that are unfeasible or unrealistic for businesses to fulfill.