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Author Question: If the market price in a perfectly competitive market is less than a firm's minimum average variable ... (Read 97 times)

jCorn1234

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on: Jun 29, 2018
If the market price in a perfectly competitive market is less than a firm's minimum average variable cost, then the firm's total revenue will always ________.
 
  A) exceed its total fixed cost
  B) be less than its total economic loss
  C) equal its total cost
  D) be less than its total variable cost

Question 2

The figure above shows a monopoly firm's demand curve. If the price and quantity of haircuts move from point t to point r, the monopoly's
 
  A) total revenue will rise.
  B) total revenue will fall.
  C) total revenue will remain the same.
  D) marginal revenue will decrease.


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dantucker

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


jCorn1234

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Reply 2 on: Jun 29, 2018
Excellent

emsimon14

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Reply 3 on: Yesterday
:D TYSM

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