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Author Question: If marginal revenue equals marginal cost in the short run, the perfectly competitive firm earns zero ... (Read 169 times)

Medesa

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  • Posts: 507
on: Jun 30, 2018
If marginal revenue equals marginal cost in the short run, the perfectly competitive firm earns zero profits.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Generally speaking, as more of a particular good is purchased, a consumer's marginal utility ____ and total utility ____.
 a. increases; decreases
  b. decreases; increases
  c. increases; increases
  d. decreases; decreases
  e. generalizations cannot be made


stano32

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  • Posts: 339
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

b


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