Economists believe that entrepreneurs, whether they can articulate their behavior or not, always think about ________, which explains their MC = MR profit-maximizing activity.

Question

Quizplus · Accepted Answer

Entrepreneurs focus on the consequences of producing the next unit to ensure that the marginal cost (MC) of producing that unit equals the marginal revenue (MR) gained from selling it, which is a fundamental principle for achieving profit maximization.

Economists Believe That Entrepreneurs, Whether They Can Articulate Their Behavior