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Author Question: If market price is greater than the minimum of AVC but below the minimum of AC, then A) the firm ... (Read 142 times)

luvbio

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on: Jul 1, 2018
If market price is greater than the minimum of AVC but below the minimum of AC, then
 
  A) the firm will shut down.
  B) revenue covers variable costs and some of the fixed costs and profit is positive.
  C) revenue covers variable costs and some of the fixed costs, although profit is negative.
  D) economic profit is zero.

Question 2

Competition can be beneficial in the public sector because _____.
 
  a. it leads to governments going out of business
  b. comparison gives some clue as to whether a government is operating efficiently
  c. it eliminates a prisoners' dilemma problem
   d. a and c


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kaillie

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

b


luvbio

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

sultansheikh

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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