A firm in a perfectly competitive industry will expand output as ...

[Bob-Dole]

A firm in a perfectly competitive industry will expand output as long as:
 a. marginal revenue is less than average revenue.
  b. marginal cost is less than marginal revenue.
 c. marginal cost is less than average total cost.
 d. marginal revenue is less than average total cost.

Question 2

Which of the following is an example of in-kind transfer?
 a. Social security benefits
  b. Food stamps
  c. Disability pensions
  d. Unemployment compensations
  e. Earned income tax credit

[kxciann]

Answer to Question 1

b

Answer to Question 2

b

[Bob-Dole]

Excellent

[dyrone]

Thanks for the timely response, appreciate it