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Author Question: For a perfectly competitive firm operating at the profit-maximizing output level in the short run, ... (Read 50 times)

cherise1989

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on: Jun 30, 2018
For a perfectly competitive firm operating at the profit-maximizing output level in the short run,
 a. MR = TR
  b. MC = price
  c. MC = ATC
  d. MC = AVC
  e. AFC = price

Question 2

In the short run, how will a profit-maximizing monopolist react if its marginal cost suddenly increases? It will
 a. lower price to expand revenue possibilities
  b. restrict output to extract a higher price from customers
  c. maintain the current price if profit is still positive
  d. increase plant size to lower marginal cost
  e. decrease plant size to lower marginal cost


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Perkypinki

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

B

Answer to Question 2

B


cherise1989

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

Kedrick2014

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Reply 3 on: Yesterday
Wow, this really help

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