The goal of the firm is not to have greatest total profits, but rather the firm's goal is to have the greatest profit per unit.
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Q4: A firm has a marginal cost equation
Q5: If the marginal revenue from producing one
Q6: If a firm produces where marginal revenue
Q7: At the profit-maximizing level of output, the
Q8: Total profit will be maximized where total
Q10: Average profit is maximized where the difference
Q11: Economic profit for a firm is equal
Q12: The unit contribution margin equals the price
Q13: If the marginal revenue from producing one
Q14: At the profit-maximizing level of output, the
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