A Competitive Firm Maximizes Profit at the Output Level Where

question 87

Multiple Choice

A competitive firm maximizes profit at the output level where:

• A)the difference between price and average total cost is the largest.
• B)the slope of the total revenue curve equals the slope of the total cost curve.
• C)the average total cost equals marginal cost.
• D)the marginal revenue exceeds marginal cost by the greatest amount.

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Definitions:

Four-Day

A work schedule that compresses the typical workweek into four days instead of the traditional five.

Telecommuting

Use of personal computers, networks, and other communications technology to do work in the home that is traditionally done in the workplace.

Technical Aspects

Pertains to the specific details, skills, or methods related to a particular field of study or area of expertise.

Flextime

Flexible working hours that permit employees the option of choosing daily starting and quitting times provided that they work a set number of hours per day or week.