Refer to the diagram above. At the point marked m,
A. price is determining production at a level where P = MC.
B. TR is exactly equal to TC, so profits equal zero.
C. price is above average cost of production.
D. the leftover rectangle is the profit earned.
Answer:B
Refer to the diagram above. At the point marked m,
A. price is determining production at a level where P = MC. B. TR is exactly equal to TC, so profits equal zero. C. price is above average cost of production. D. the leftover rectangle is the profit earned.
Explanation: Category: Analyze