For a perfectly competitive firm, at profit maximization
A) production must occur where average cost is minimized.
B) market price exceeds marginal cost.
C) total revenue is maximized.
D) marginal revenue equals marginal cost.
Question 2
For many years the Aluminum Company of America (Alcoa) controlled most of the world's supply of high quality bauxite, the ore needed to produce aluminum. What type of entry barrier was responsible for Alcoa's position in the aluminum industry?
A) ownership of a key input B) a patent on the manufacture of aluminum
C) economies of scale D) a government-imposed barrier
Primary production is positively correlated with the evapotranspiration rate.
El Niño and areas of high marine primary production around the Galapagos Islands. Noti
Modern Predication of Peak in Global Oil Production
World Crude Oil Production and Reserves (Billions of Barrels)
Competitive firms and maximization
The production of a new allopolyploid species