Author Question: For a perfectly competitive firm, no matter how much the firm produces, price always equals A) ... (Read 149 times)

lak · **on:** Jun 29, 2018

For a perfectly competitive firm, no matter how much the firm produces, price always equals

A) marginal product.
B) average total cost.
C) minimum average total cost.
D) marginal revenue.

Question 2

The budget line ________.

A) shows the limits to a household's consumption choices
B) illustrates a household's preferences
C) defines a household's consumption when prices change
D) shows the income a household needs to be able to buy goods and services