Economics · Theory of Production and Cost
According to the marginal analysis (MC-MR approach), a firm maximizes its profit or minimizes its loss by expanding its output to the level where:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Marginal Revenue is greater than Total Revenue
- 2Total Revenue is exactly equal to Total Cost
- 3Average Revenue is equal to Marginal Revenue
- 4Marginal Revenue (MR) is equal to Marginal Cost (MC)✓
Correct answer
Marginal Revenue (MR) is equal to Marginal Cost (MC)
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