Which of the following is the production of a good or service for which the revenue from selling it exceeds the cost of producing it?
A) profit optimization
B) product specialization
C) profit maximization
D) breakeven production

Question

Quizplus · Accepted Answer

Profit maximization refers to producing goods or services where the revenue exceeds the cost of production. This is the goal of most businesses as it results in a profit being earned. Therefore, option C is the correct answer. Option A is not the correct choice as profit optimization refers to finding the optimal level of profit, which may not necessarily result in revenue exceeding cost. Option B is not relevant to the question, and option D refers to the point where revenue and cost are equal, and there is no profit earned.

Which of the Following Is the Production of a Good