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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

A firm maximizes its total revenue. Does it automatically maximize its profit too? Why or why not?

To determine

The profit and revenue maximization of a firm.

Explanation

A firm maximizes its profit at the point where marginal cost (MC) equals marginal revenue (MR), whereas the revenue maximizes at the point where the MR is zero. If there are no variable costs associated with the fir...

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