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Author Question: A firm in a perfectly competitive industry will maximize profits by adjusting (Read 146 times)

blinding37

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on: Oct 12, 2022

Question 1

Consider a perfectly competitive firm producing and selling mousetraps at a market price of $5.00. Suppose this firm is currently selling 1750 mousetraps at the market price of $5. If the firm raises its price to $6, its average revenue will be
◦ $5.
◦ $0.
◦ greater than $6.
◦ between $5 and $6.
◦ $6.

Question 2

A firm in a perfectly competitive industry will maximize profits by adjusting
◦ average total cost until it equals price.
◦ price until average revenue equals average total cost.
◦ price until marginal revenue equals marginal cost.
◦ output until average revenue equals short-run average total cost.
◦ output until marginal cost equals marginal revenue.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by blinding37 on Oct 12, 2022

dsd1212

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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blinding37

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

jordangronback

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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