- In Table 24.1,according to the profit maximization rule,at the profit-maximizing level of output,the average total cost is
A)$316.67.
B)$325.
C)$400.

Name: - In Table 24.1,according to the profit maximization rule,at the profit-maximizing level of output,the average total cost is A)$316.67. B)$325. C)$400.
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Question

- In Table 24.1,according to the profit maximization rule,at the profit-maximizing level of output,the average total cost is
A)$316.67. 
B)$325. 
C)$400.

Quizplus · Accepted Answer

The profit maximization rule states that firms maximize profit where marginal cost equals marginal revenue. At this level of output, the average total cost is $316.67.

- in Table 24