Advanced Placement (AP), 23.06.2019 14:00, kristieroth1

How can firms use marginal analysis to determine the price of a product? a) profit maximization can occur when the marginal cost exceeds the marginal revenue. b) the total cost of production can determine the individual unit price of a product. c) marginal analysis can be used to determine at what price profit maximization occurs. d) firms can calculate the marginal cost of a product and set the price lower than the cost.

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How can firms use marginal analysis to determine the price of a product? a) profit maximization can...