According to the Rule for Maximizing Profit, the Highest Profit

question 146

Multiple Choice

According to the rule for maximizing profit, the highest profit is earned at the price where

• A) average cost is just less than or equal to marginal revenue.
• B) average cost is just less than or equal to average revenue.
• C) total revenue is just greater than total costs.
• D) marginal cost is just less than or equal to marginal revenue.
• E) total revenue is equal to total costs.

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