For a syrup producer in central Vermont,profit is maximized at the level of output for which total
A) revenue exceeds total cost by the largest amount.
B) revenue exceeds total cost by the smallest amount.
C) revenue is maximized.
D) cost is minimized.
E) revenue equals total cost.

Question

Quizplus · Accepted Answer

Profit is maximized when the difference between total revenue and total cost is the largest, meaning when revenue exceeds cost by the greatest amount.

For a Syrup Producer in Central Vermont,profit Is Maximized at the Level