At the best, or optimum, short-run level of output, the firm will be
A)maximizing total profits
B)minimizing total losses
C)either maximizing total profits or minimizing total losses
D)maximizing profits per unit.

Question

Quizplus · Accepted Answer

At the optimum short-run level of output, a firm aims to operate in the most financially efficient manner given its current constraints. This means it will either be maximizing its total profits if it is in a profitable situation or minimizing its total losses if it is in an unprofitable situation. The specific goal depends on the firm's current market conditions and cost structures.

At the Best, or Optimum, Short-Run Level of Output, the Firm