Ans is C
total Profit is maximised when marginal profit is zero
marginal profit is the addition in total profit due to an additional unit produced
which means sum of marginal profit=Total profit
Thus when marginal profit=0, total profit is maximised
Question 11 1 pts If the Profit Rate on Output is declining with more output while...
1 pts Question 11 If the Profit Rate on Output is declining with more output while the Marginal Product is constant with more output, then maximum profit is reached where: Profit Rate on Output is equal to zero Marginal Product is equal to zero Marginal Revenue is equal to zero Marginal Profit is equal to zero Previous Next
Question 11 1 pts If the Profit Rate on Output is declining with more output while the Marginal Product is constant with more output, then maximum profit is reached where: Marginal Profit is equal to zero Profit Rate on Output is equal to zero O Marginal Revenue is equal to zero O Marginal Product is equal to zero
if the profit rate on output is declining with more output while the marginal product is constant with more output, then the maximum profit is reached when Profit rate on output is equal to zero Marginal revenue is equal to zero Marginal Product is equal to zero Marginal Profit is equal to zero
decrease its rate of output to offset the higher variable co QUESTION 28 When demand is perfectly elastic, marginal revenue is O equal to price. O declining. o increasing. o zero. QUESTION 29
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Question 46 2p Which of the following is true of the profit, earned by a monopolist? Profit is maximized along the inelastic portion of the demand curve. Normal profit is ensured where price is equal to average total cost. Normal profit is ensured where marginal cost exceeds average revenue. Economic profit is made where average variable cost equals marginal revenue. Profit is maximized where marginal revenue exceeds marginal cost. Question 47 2 pts A non-price discriminating monopolist's demand curve: is...
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This Question: 1 pt 1 of 48 (1 complete) This Test: 48 pts p Because it faces a downward sloping demand curve, a monopolist is a price taker O A True B False Profit maximazation for a monopolist and a perfect competitor occurs where marginal revenue equals marginal cost. At this profit-maximizing output, the monopolist will charge a price competitor will charge a price marginal revenue marginal revenue and a perfect O A equal to greater than...