The Table Given Below Reports the Marginal Revenue and Marginal

question 57

Multiple Choice

The table given below reports the marginal revenue and marginal cost of Holmes Detective Agency for each client.Table 9.2

-A firm enjoys a positive economic profit when:

• A)the demand curve touches the average cost curve at the profit-maximizing level of output.
• B)the marginal revenue curve has a negative intercept on the ordinate axis.
• C)the average revenue curve lies below the average cost curve at the profit-maximizing level of output.
• D)the marginal cost is declining at the profit-maximizing level of output.
• E)the average revenue curve lies above the average cost curve at the profit-maximizing level of output.

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