Fill in the blanks below. In an unconstrained maximization problem

Question # 00093250 Posted By: Prof.Longines Updated on: 08/17/2015 02:02 AM Due on: 08/19/2015
Subject Economics Topic General Economics Tutorials:
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Fill in the blanks below. In an unconstrained maximization problem:

a. An activity should be increased if______exceeds______.

b. An activity should be decreased if______exceeds______.

c. The optimal level of activity occurs at the activity level for which______equals

d. At the optimal level of activity,______is maximized, and the slope of______ equals the slope of______.

e. If total cost is falling faster than total benefit is falling, the activity should be______.

f. If total benefit is rising at the same rate that total cost is rising, the decision maker should______.

g. If net benefit is rising, then total benefit must be rising at a rate______(greater than, less than, equal to) the rate at which total cost is______(rising, falling).

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  1. Tutorial # 00087641 Posted By: Prof.Longines Posted on: 08/17/2015 02:03 AM
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