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Author Question: A perfectly competitive firm shuts down if the price of its product is A) greater than its ... (Read 55 times)

mrsjacobs44

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on: Jun 29, 2018
A perfectly competitive firm shuts down if the price of its product is
 
  A) greater than its minimum average variable cost.
  B) less than its minimum average variable cost.
  C) greater than its maximum variable cost.
  D) less than its minimum total cost.

Question 2

The table above gives the demand for a monopolist's output. What is the marginal revenue when output is increased from 2 to 3 units?
 
  A) 18
  B) 4
  C) 7
  D) 6


lcapri7

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

B

Answer to Question 2

B


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