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Author Question: Under perfect competition a firm will increase output if (Read 46 times)

altibaby

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  • Posts: 562
on: May 25, 2020

Question 1

The following table shows costs and revenue schedules for a firm.

Quantity (units)AC (£)MC (£)AR (£)MR (£)
1003.203.003.003.00
2002.802.803.003.00
3002.843.003.003.00
4003.003.603.003.00
5004.006.003.003.00
6006.009.003.003.00
How much total profit will the firm make at the profit-maximising level of output?
◦ £40
◦ £48
◦ £0
◦ £16

Question 2

Under perfect competition a firm will increase output if
◦ marginal revenue equals average revenue
◦ marginal cost is less than price.
◦ marginal cost equals marginal revenue.
◦ price exceeds marginal revenue.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by altibaby on May 25, 2020

adf223

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Reply #1 on: May 25, 2020
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.
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altibaby

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Reply 2 on: May 25, 2020
YES! Correct, THANKS for helping me on my review

adf223

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  • Posts: 304
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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