When a Firm Has Maximized Profits

question 245

Multiple Choice

When a firm has maximized profits

• A) it has also minimized total costs.
• B) the marginal product of each input is also maximized.
• C) the marginal physical product is greater than the input price for all inputs.
• D) its marginal cost is zero.

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Definitions:

Tympanic Membrane Thermometer

A device used to measure body temperature by detecting the heat emissions from the eardrum or tympanic membrane.

Uncooperative

Describes a behavior or attitude characterized by reluctance or refusal to participate or comply with requests or instructions.

Pulse Pressure

The difference between systolic and diastolic blood pressure, reflecting the force that the heart generates each time it contracts.

Diastolic Blood Pressure

The pressure in the arteries when the heart rests between beats, indicated as the bottom number in a blood pressure reading.