how can producers maximize their profit? check all that apply.\n□ they can work to increase their marginal…

how can producers maximize their profit? check all that apply.\n□ they can work to increase their marginal cost.\n□ they can work to decrease their marginal cost.\n□ they can raise prices to increase marginal revenue.\n□ they can lower prices to decrease marginal revenue.\n□ they can keep marginal costs below marginal revenues.\n□ they can keep marginal revenues below marginal costs.

how can producers maximize their profit? check all that apply.\n□ they can work to increase their marginal cost.\n□ they can work to decrease their marginal cost.\n□ they can raise prices to increase marginal revenue.\n□ they can lower prices to decrease marginal revenue.\n□ they can keep marginal costs below marginal revenues.\n□ they can keep marginal revenues below marginal costs.

Answer

Answer:

  • They can work to decrease their marginal cost.
  • They can raise prices to increase marginal revenue.
  • They can keep marginal costs below marginal revenues.

Brief Explanations:

Profit is maximized when marginal revenue exceeds marginal cost. Decreasing marginal cost and increasing marginal revenue through price - raising contribute to this. Keeping marginal costs below marginal revenues directly leads to higher profit.