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Author Question: A perfectly competitive firm that should not shut down in the short run will maximize profit where ... (Read 154 times)

pane00

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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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Answer to Question 1

D

Answer to Question 2

D





 

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