This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a perfectly competitive firm produces at an output level where marginal cost equals marginal revenue, then (Read 196 times)

jacob816

  • Full Member
  • ***
  • Posts: 151
on: Oct 12, 2022
If a perfectly competitive firm produces at an output level where marginal cost equals marginal revenue, then
◦ the firm is maximizing its revenue.
◦ the last unit produced adds the same amount to costs as it does to revenue.
◦ the difference between TR and TC is zero.
◦ there is no reason to reduce or expand output, as long as AVC is greater than or equal to price.
◦ the firm should shut down.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by jacob816 on Oct 12, 2022

jbsuccess1

  • Full Member
  • ***
  • Posts: 158
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.
Answer Preview
Only 56% of students answer this correctly


jacob816

  • Member
  • Posts: 151
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

dyrone

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Independent assortment produces 50 percent recombinants Independent assortment produces 50 percent recombinants
How lateral inhibition produces contrast enhancement. (Based on Ratliff, 1972.) How lateral inhibition produces contrast enhancement. (Based on Ratliff, 1972.)
Competitive inhibitor Competitive inhibitor
The Nile Delta will be strongly affected by a rise in sea level of 50 cm The Nile Delta will be strongly affected by a rise in sea level of 50 cm
The mole fraction of oxygen in dry air near sea level is 0.20948, where the molar mass of ... The mole fraction of oxygen in dry air near sea level is 0.20948, where the molar mass of ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Male Reproductive System - The gonadotropin releasing hormone

For a complete list of videos, visit our video library