In order to maximize profits,firms should produce to the point where marginal revenue is equal to marginal cost.
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Q1: A change in a variable cost causes
Q2: If marginal cost exceeds marginal revenue,then a
Q4: When the price of fabric falls,it does
Q5: Economists attempt to understand firm behavior by
Q6: Firms are so diverse in size and
Q7: All cost increases are passed on to
Q8: Profits will be positive as long as
Q9: Since Marginal Revenue measures the additional revenue
Q10: Either a rise in marginal cost or
Q11: Total cost and marginal cost can both
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