Author Question: A perfectly competitive firm will shut down in the short run when marginal revenue equals marginal ... (Read 171 times)

DelorasTo · **on:** Jun 30, 2018

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.