Hi Tutor

The profit-maximising price for an airline company that flies every hour will rise if...

1. its competitors lower their price
2. the marginal cost of making a flight is reduced
3. the time for each passenger becomes valuable
4. each of the above is true

Which is correct

And then, the statement that marginal cost = marginal revenue leads to profit maximization or loss minimization is true...

1. all the time
2. only in the long run
3. only if marginal cost is rising at the point of equality
4. only if average total cost is falling at a point of equality

which is the correct option