A profit-maximizing monopolist will produce the level of output at which
A: average revenue is equal to average total cost.
B: average revenue is equal to marginal cost.
C: marginal revenue is equal to marginal cost.
D: total revenue is equal to opportunity cost.
A: average revenue is equal to average total cost.
B: average revenue is equal to marginal cost.
C: marginal revenue is equal to marginal cost.
D: total revenue is equal to opportunity cost.
举一反三
- A firm maximizes profit by operating at the level of output where A: average revenue equals average cost. B: average revenue equals average variable cost. C: total costs are minimized. D: marginal revenue equals marginal cost. E: marginal revenue exceeds marginal cost by the greatest amount.
- A perfectly competitive firm maximizes its profit by producing the output at which its marginal cost equals its ____ A: marginal revenue B: average total cost C: average variable cost. D: average fixed cost.
- Monopolists will maximize profit by producing at an output level where which of the following conditions exists（） A: Price = marginal revenue = marginal cost. B: Price = demand = marginal revenue = marginal cost. C: Marginal revenue = marginal cost ＜ price.
- In short run the shutdown point is that point at which A: price equals marginal cost. B: average fixed cost equals marginal cost. C: average variable cost equals marginal cost. D: average total cost equals marginal cost.
- A competitive firm maximizes profit by choosing the quantity at which ( ) A: average total cost is at its minimum. B: marginal cost equals the price. C: average total cost equals the price. D: marginal cost equals average total cost.