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Author Question: A monopolistically competitive firm shuts down in the short run if ________. A) marginal revenue ... (Read 87 times)

jlmhmf

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on: Jun 29, 2018
A monopolistically competitive firm shuts down in the short run if ________.
 
  A) marginal revenue equals marginal cost
  B) total revenues do not cover variable costs
  C) marginal revenue covers average fixed costs
  D) average total cost exceeds price

Question 2

A production function establishes the relationship between:
 
  A) the market price of a good and the sales revenue generated.
  B) the quantity of output produced and the firm's profit.
  C) the quantity of inputs used and the quantity of output produced.
  D) the market price of a good and the quantity of output supplied.


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14vl19

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

B

Answer to Question 2

C


jlmhmf

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Reply #2 on: Jun 29, 2018
Thank you :)


14vl19

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Reply #3 on: Jun 29, 2018
Happy to help you


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