If marginal revenue equals marginal cost:
No profit is being made
Total revenue equals total cost
Profit are maximized
Producing another unit could increase profit
__________ refers to the total amount of money that a firm receives from the sale of its products.
Total revenue
Marginal revenue
Average revenue
Total product
The amount of money which the firm recovers by the sale of its output in the market is known as its
Cost
Revenue
Profit
Investment
Total cost is the sum of
Total fixed cost and total variable cost
Total fixed cost and average cost
Marginal cost and average cost
All the above
If marginal product is below average product:
The total product fall
The average product will fall
Total revenue will fall
Marginal revenue will fall
Average fixed cost is obtained by dividing
TC/Q
TFC/Q
TVC/Q
TFC+TVC
If marginal cost is positive and falling
Total cost is falling
Total cost is increasing at a falling rate
Total cost is falling at a falling rate
Total cost is increasing at an increasing rate
Money cost is also called
Nominal cost
Real cost
Total cost
Marginal cost
Price equals
Total revenue - quantity
Total revenue / quantity sold
Total quantity sold × quantity sold
Total revenue / total cost
The marginal cost curve is _________ shaped.
V shaped
U shaped
Curve
None of these
