This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a perfectly competitive firm's average total cost is less than the price, then the firm (Read 103 times)

robinn137

  • Hero Member
  • *****
  • Posts: 544
on: May 24, 2019
If a perfectly competitive firm's average total cost is less than the price, then the firm
◦ incurs an economic loss.
◦ makes an economic profit.
◦ makes zero economic profit.
◦ makes either zero economic profit or an economic profit depending on whether the marginal revenue is equal to or greater than the price.
◦ None of these answers is correct because the relationship between the price and average total cost has nothing to do with the firm's profit.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by robinn137 on May 24, 2019

whitcassie

  • Sr. Member
  • ****
  • Posts: 298
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


robinn137

  • Hero Member
  • *****
  • Posts: 544
Reply #2 on: May 24, 2019
TY


whitcassie

  • Sr. Member
  • ****
  • Posts: 298
Reply #3 on: May 24, 2019
You're welcome


« previous next »
 

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

During a total solar eclipse, the solar corona can be seen with the naked eye, during the brief peri During a total solar eclipse, the solar corona can be seen with the naked eye, during the brief peri
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
The level of emissions from transport in the United States is twice as high as the global average The level of emissions from transport in the United States is twice as high as the global average
Average Years of Schooling versus GDP per Capita Average Years of Schooling versus GDP per Capita
Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5 Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5
Average quarterly presidential approval rating, from Eisenhower to Trump Average quarterly presidential approval rating, from Eisenhower to Trump
Video: Cortisol (protein catabolism, gluconeogenesis, vasoconstriction & anti-inflammation)

For a complete list of videos, visit our video library