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greymouse802Lv1
28 Nov 2020
a. Private firms seek to maximize (per unit profits , total profits , total revenue, or total costs)
b. The amount by which Total Cost rises when one more unit is produced is called the (total profit, total loss, marginal cost, or total revenue)
c. For firms in perfectly competitive markets, the amount by which the Total Revenue rises when one more unit is sold is called the (total cost marginal revenue, marginal cost, or marginal profit) , and this is equal to the (total cost , quantity of output, total price or total profit) .
(each are fill in the blank and need one of the terms listed).
a. Private firms seek to maximize (per unit profits , total profits , total revenue, or total costs)
b. The amount by which Total Cost rises when one more unit is produced is called the (total profit, total loss, marginal cost, or total revenue)
c. For firms in perfectly competitive markets, the amount by which the Total Revenue rises when one more unit is sold is called the (total cost marginal revenue, marginal cost, or marginal profit) , and this is equal to the (total cost , quantity of output, total price or total profit) .
(each are fill in the blank and need one of the terms listed).
Sonal BahlLv10
14 Jan 2021
