Problem
1. How do you find the most efficient output, and how do you find the most profitable output?
2. At the output at which a firm maximizes its profits, what two variables are equal? At the output at which a firm minimizes its losses, what two variables are equal?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.