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Statement 1: Profit is maximum when marginal revenue equals marginal cost. Statement 2: At maximum…
Statement 1: Profit is maximum when marginal revenue equals marginal cost.
Statement 2: At maximum profit, the slope of the profit function is zero.
Which one of the following is correct?
- aStatement 1 is true and Statement 2 is false.
- bStatement 2 is true and Statement 1 is false.
- cBoth the statements are true.
- dBoth the statements are false.
Answer
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From ISC 2026 Improvement Mathematics Paper 1, question 19(i).