Incremental profit is:
A) the change in profit that results from a unitary change in output.
B) total revenue minus total cost.
C) the change in profit caused by a given managerial decision.
D) the change in profits earned by the firm over a brief period of time.
Correct Answer:
Verified
Q4: Which of the following short run strategies
Q5: The optimal decision produces:
A) maximum revenue.
B) maximum
Q6: Profit per unit is rising when marginal
Q7: The optimal output decision:
A) minimizes the marginal
Q8: If total revenue increases at a constant
Q10: Average cost minimization occurs at the point
Q11: Marginal profit equals:
A) the change in total
Q12: Marginal profit equals average profit when:
A) marginal
Q13: Total revenue is maximized at the point
Q14: The breakeven level of output occurs where:
A)
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