- In Table 24.1,according to the profit maximization rule,at the profit-maximizing level of output marginal,cost is
A)$200.
B)$250.
C)$300.

Name: - In Table 24.1,according to the profit maximization rule,at the profit-maximizing level of output marginal,cost is A)$200. B)$250. C)$300.
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Question

- In Table 24.1,according to the profit maximization rule,at the profit-maximizing level of output marginal,cost is
A)$200. 
B)$250. 
C)$300.

Quizplus · Accepted Answer

At the profit-maximizing level of output, marginal cost equals marginal revenue. If the table indicates that marginal revenue is $300, then the marginal cost must also be $300 to maximize profit.

- in Table 24