A Firm Can Maximize Profit (Net Benefit)by Choosing to Produce

question 17

Multiple Choice

A firm can maximize profit (net benefit) by choosing to produce that level of output at which

• A)the difference between the additional revenue from the last unit sold and the additional cost of that unit is maximized.
• B)the additional revenue from the last unit sold equals the additional cost of that unit.
• C)the additional revenue from the last unit sold is just a little more than the additional cost of that unit.
• D)total revenue equals total cost.

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Definitions:

Sleep

A naturally recurring state of mind and body characterized by altered consciousness, relatively inhibited sensory activity, reduced muscle activity, and inhibition of nearly all voluntary muscles during rapid eye movement (REM) stages.

Light

A form of electromagnetic radiation visible to the human eye, responsible for the sense of sight.

Waking Consciousness

A state of consciousness during which an individual is alert and aware of their thoughts, feelings, and perceptions from the external world.

Altered State

Refers to a state of consciousness that is significantly different from a normative waking beta wave state, such as those induced by meditation, drugs, or hypnosis.