Author Question: Assume that buyers are aware of the similarities between the products sold by two dairy farms. The ... (Read 60 times)

sabina · **on:** Jun 30, 2018

Assume that buyers are aware of the similarities between the products sold by two dairy farms. The dairy producers can still practice price discrimination through advertisement and salesmanship.
Indicate whether the statement is true or false

Question 2

In the short run, a firm attempting to minimize losses:
a. must leave the industry in order to maximize opportunity costs.
b. will produce as long as marginal cost equals marginal revenue.
c. will produce as long as total revenue exceeds total variable cost.
d. will produce as long as total revenue exceeds total fixed cost.
e. will produce as long as competitors continue to produce.