-If the firm is minimizing losses,it is producing ___ units of output and charging a price of __.
A)OM;ON
B)OL;ON
C)OM;OF
D)OL;OF
E)OM;OG

Name: -If the firm is minimizing losses,it is producing ___ units of output and charging a price of __. A)OM;ON B)OL;ON C)OM;OF D)OL;OF E)OM;OG
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Question

-If the firm is minimizing losses,it is producing ___ units of output and charging a price of __.
A)OM;ON 
B)OL;ON 
C)OM;OF 
D)OL;OF 
E)OM;OG

Quizplus · Accepted Answer

The firm is minimizing losses when it is producing at the point where marginal cost equals marginal revenue. This is point M on the graph. The firm is charging a price of ON, which is equal to marginal revenue.

-If the Firm Is Minimizing Losses,it Is Producing ___ Units