In the short run, a perfectly competitive profit maximizing firm ...

[APUS57]

In the short run, a perfectly competitive profit maximizing firm that has not shut down
 
  A) is operating on the downward-sloping portion of its AVC curve.
  B) is operating at the minimum of its AVC curve.
  C) is operating on the upward-sloping portion of its AVC curve.
  D) is not operating on its AVC curve.
  E) can be at any point on its AVC curve.

Question 2

Refer to Scenario 10.2. What is the profit maximizing price?
 
  A) 95.00
  B) 5.00
  C) 52.50
  D) 10.00

[dreamfighter72]

Answer to Question 1

C

Answer to Question 2

C

[APUS57]

Great answer, keep it coming

[Joy Chen]

Thanks for the timely response, appreciate it