Suppose that a price taker confronts a price of $6 and produces 650 units.For this to be the point of profit maximization,
A) total cost must exceed total revenue.
B) the marginal cost of producing the 650th unit must be $6.
C) total revenue must exceed total cost.
D) the marginal cost of producing the 650th unit must be less than $6.
E) total revenue must equal total cost.
Correct Answer:
Verified
Q84: Marginal cost is calculated as
A) total revenue
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