Author Question: In the above figure, if the price is 10, a profit-maximizing perfectly competitive firm will A) ... (Read 35 times)

geodog55 · **on:** Jun 29, 2018

In the above figure, if the price is 10, a profit-maximizing perfectly competitive firm will

A) produce 40 units.
B) produce 25 units.
C) produce 10 units.
D) choose not to produce.

Question 2

The equilibrium price will rise and the equilibrium quantity might increase, decrease, or stay the same when the

A) demand and the supply of a good both increase.
B) demand for a good increases and the supply of it decreases.
C) demand for a good decreases and the supply of it increases.
D) demand and the supply of a good both decrease.