In the long run, a firm will exit a competitive industry if
a. total revenue exceeds total cost.
b. the price exceeds average total cost.
c. average total cost exceeds the price.
d. Both a and b are correct.
c
Economics
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Fiscal policy encompasses all of the following except
A) expenditures by the government. B) monetary injection by the government. C) taxation by the government. D) borrowing by the government.
Economics
A profit-maximizing monopolistically competitive firm will expand output to the point where:
a. total revenue equals total cost. b. marginal revenue equals marginal cost. c. price equals average total cost. d. price equals marginal cost.
Economics