Asked by
Karla Dupont
on Nov 30, 2024Verified
If the firm maximizes its profits,its marginal cost will be
A) $8.
B) $10.
C) $12.
D) $16.
Marginal Cost
is the cost incurred by producing one additional unit of a product or service.
Profits
The financial gain made in a transaction or operation, calculated as the difference between revenue and expenses.
Firm
A business organization, such as a corporation or partnership, that sells goods or services in exchange for revenue.
- Explicate the manner in which monopolies pinpoint the output and price that yields the maximal profit.
Verified Answer
SN
Learning Objectives
- Explicate the manner in which monopolies pinpoint the output and price that yields the maximal profit.