An entrepreneur wants to maximize profits without affecting his price. He must produce an output where_____________
A. Marginal cost is equal to the average variable cost
B. Average variable cost is minimum
C. Average fixed cost is minimum
D. Average cost is minimum
Answer:A
An entrepreneur wants to maximize profits without affecting his price. He must produce an output where_____________
A. Marginal cost is equal to the average variable cost B. Average variable cost is minimum C. Average fixed cost is minimum D. Average cost is minimum