« previous next »

Author Question: If a perfectly competitive firm's marginal revenue was less than its marginal cost, a. it would ... (Read 53 times)

jho37

  • Hero Member
  • *****
  • Posts: 531
on: Jun 30, 2018
If a perfectly competitive firm's marginal revenue was less than its marginal cost,
 a. it would raise its price in order to increase its profits.
 b. it would contract its output but not raise its price in order to increase its profits.
  c. it is currently earning economic losses.
 d. both (a) and (c) are true.

Question 2

Which of the following markets is continuously in operation and not set in a single venue or restricted to certain dates or times?
 a. The U.S natural gas industry
  b. The San Francisco Wholesale Produce Market
  c. The U.S. real estate market
  d. An art exhibition


cegalasso

  • Sr. Member
  • ****
  • Posts: 295
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

jho37

  • Hero Member
  • *****
  • Posts: 531
Reply #2 on: Jun 30, 2018
Thank you :)


cegalasso

  • Sr. Member
  • ****
  • Posts: 295
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Greet a First-Time Client With a Firm Handshake. Greet a First-Time Client With a Firm Handshake.
Firm handshake Firm handshake
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
A company that makes environmental measuring devices has calculated their revenue and costs as ... A company that makes environmental measuring devices has calculated their revenue and costs as ...
Competitive firms and maximization Competitive firms and maximization
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Video: Hypoglycemia Animation

For a complete list of videos, visit our video library