To maximize total profit, managers want to produce the quantity in which marginal benefit _________marginal cost.

Question

To maximize total profit, managers want to produce the quantity in which marginal benefit  _________marginal cost.

Quizplus · Accepted Answer

To maximize total profit, managers aim to produce the quantity at which the marginal benefit is equal to the marginal cost. This is because producing more would mean the cost of producing an additional unit exceeds the benefit, and producing less would mean missing out on potential profit where the benefit exceeds the cost.

To Maximize Total Profit, Managers Want to Produce the Quantity