Question

In: Economics

Which of the following conditions must hold to ensure that profits are, in fact, at a...

Which of the following conditions must hold to ensure that profits are, in fact, at a maximum?

d(MC(Q))/dQ < 0

d(MC(Q))/dQ > 0

d(MC(Q))/dQ > 0 and d 2π(Q)/dQ 2 < 0

d 2π(Q)/dQ 2 < 0

Solutions

Expert Solution

Answer = correct option is C

d(MC(Q))/dQ>0 and d​​​​​​2​​​​​d2π(Q)/dQ​​​​​2​​​​dQ2<0

This is the condition that must hold to ensure that profits are in fact at a maximum


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