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Author Question: In perfect competition, the firm's marginal revenue curve A) cuts its demand curve from below, ... (Read 132 times)

nenivikky

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on: Jun 29, 2018
In perfect competition, the firm's marginal revenue curve
 
  A) cuts its demand curve from below, going from left to right.
  B) cuts its demand curve from above, going from left to right.
  C) always lies below its demand curve.
  D) is the same as its demand curve.

Question 2

Economic efficiency necessarily occurs when the firm
 
  A) produces a given output at least cost.
  B) produces a given output by using the least inputs.
  C) earns a normal profit.
  D) earns an economic profit.


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Anton

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


nenivikky

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

emsimon14

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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