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Answer: Profit-maximizing output is the point at which marginal revenue and marginal cost are equal.
Explanation: In other words, profit-maximizing output is when <em>MR = MC.</em>
a class of persons holding exceptional rank and privileges, especially the hereditary nobility. a government or state ruled by an aristocracy, elite, or privileged upper class. government by those considered to be the best or most able people in the state.
There were several reasons that Lincoln announced and implemented the Emancipation Proclamation at the end of 1862, early 1863. His basic goal was to turn the war from a political focus to a morally based focus. First, Lincoln was in a difficult situation, militarily. The North has lost most of the battles that had been fought, and many Northerners were beginning to grumble about the war. Lincoln hoped that the change to a moral focus on slavery would cement Northern support. In addition, several European countries, including England and France, were considering formal recognition of the Confederacy.
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