Which of the Following Statements Regarding the Profit Maximising Model

question 58

Multiple Choice

Which of the following statements regarding the profit maximising model is/are true?
i. The profit maximising model is limited because a firm's demand and marginal revenue are difficult to discern.
ii. The marginal revenue and marginal cost model is valid for all forms of market.
iii. Costing systems are not usually designed to measure the marginal changes in cost incurred as production and sales increase unit by unit.

• A) i
• B) ii and iii
• C) iii
• D) i and iii