Author Question: If the marginal cost curve is below the average variable cost curve, then (Read 26 times)

jeatrice · **on:** Apr 19, 2019

Question 1

Refer to the information provided in Table 8.6 below to answer the question(s) that follow.

Refer to Table 8.6. If the firm is in a perfectly competitive industry with a market price of $15 per unit, the firm will produce ________ units and earn a profit of ________.

◦ three; $10
◦ four; $10
◦ four; -$10
◦ five; $15

Question 2

If the marginal cost curve is below the average variable cost curve, then

◦ average variable cost is increasing.
◦ average variable cost is decreasing.
◦ average variable cost is constant.
◦ marginal cost is increasing.

wergv · **Reply #1 on:** Apr 19, 2019

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