In the short run, a perfectly competitive firm will maximize ...

[viki]

In the short run, a perfectly competitive firm will maximize profit by producing where:
 a. MC = MR.
 b. MC = ATC.
 c. ATC = MR.
 d. AVC = MC.

Question 2

The 45-degree line splitting the distance between the axes in a Lorenz Curve is the:
 a. line of equal share of expenditure.
  b. line of equivalent income.
  c. line of income equality.
  d. line of average income.
  e. line of absolute inequality.

[Loise Hard]

Answer to Question 1

a

Answer to Question 2

c