A profit-seeking firm will choose the combination of inputs that:
A)maximizes profit.
B)maximizes costs.
C)has the lowest average variable cost.
D)has the lowest average total cost.

Question

Quizplus · Accepted Answer

A profit-seeking firm aims to maximize profit, which involves choosing the combination of inputs that results in the highest difference between total revenue and total costs.

A Profit-Seeking Firm Will Choose the Combination of Inputs That