Business, 09.10.2019 00:00, maddiem5027
Profit maximization occurs when: a firm expands output until marginal revenue is exceeded by marginal cost. a firm expands output until marginal revenue is equal to marginal cost. the price in the market is equal to the firm’s marginal revenue. total costs equal total revenue. a firm sets the price at a point above average total cost.
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Profit maximization occurs when: a firm expands output until marginal revenue is exceeded by margin...
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