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Author Question: Which of the following is ALWAYS true for a perfectly competitive firm? A) P = MR B) P = ATC C) ... (Read 31 times)

tichca

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on: Jun 29, 2018
Which of the following is ALWAYS true for a perfectly competitive firm?
 
  A) P = MR
  B) P = ATC
  C) MR = ATC
  D) P = AVC

Question 2

If the market for roller blades is at a competitive equilibrium, and there are no external costs or benefits, then
 
  A) marginal social benefit is equal to marginal social cost.
  B) the sum of consumer surplus and producer surplus is maximized.
  C) resources are being used efficiently.
  D) All of the above answers are correct.


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jasonq

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

A

Answer to Question 2

D


tichca

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Reply #2 on: Jun 29, 2018
Thank you :)


jasonq

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Reply #3 on: Jun 29, 2018
Happy to help you


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