A perfectly competitive firm will shut down in the short run when ...

[DelorasTo]

A perfectly competitive firm will shut down in the short run when marginal revenue equals marginal cost at a price less than minimum average variable cost.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Consumers tend to maximize:
 a. marginal utility.
  b. marginal utility per dollar.
  c. total utility.
  d. money holdings.
  e. consumer surplus.

[EAN94]

Answer to Question 1

True

Answer to Question 2

c

[DelorasTo]

Thanks for the timely response, appreciate it

[Jossy]

Excellent