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Author Question: In the short run, a perfectly competitive firm will maximize profit by producing where: a. MC = MR. ... (Read 43 times)

viki

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on: Jun 30, 2018
In the short run, a perfectly competitive firm will maximize profit by producing where:
 a. MC = MR.
 b. MC = ATC.
 c. ATC = MR.
 d. AVC = MC.

Question 2

The 45-degree line splitting the distance between the axes in a Lorenz Curve is the:
 a. line of equal share of expenditure.
  b. line of equivalent income.
  c. line of income equality.
  d. line of average income.
  e. line of absolute inequality.


Loise Hard

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


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