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Author Question: A perfectly competitive firm that should not shut down in the short run will maximize profit where ... (Read 158 times)

pane00

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on: Jun 30, 2018
A perfectly competitive firm that should not shut down in the short run will maximize profit where
 a. VC = 0
  b. FC = 0
  c. AFC = MC
  d. P = MC
  e. ATC = 0

Question 2

Gilligan runs the only dry-cleaning business on a desert isle. If the cost of cleaning fluid falls, he can increase profit by
 a. raising price
  b. charging the highest price he can
  c. using less cleaning fluid
  d. lowering price
  e. charging a price equal to marginal cost


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joneynes

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

D

Answer to Question 2

D


pane00

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Reply #2 on: Jun 30, 2018
Thank you :)


joneynes

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Reply #3 on: Jun 30, 2018
Happy to help you


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