At an output of 17, ATC is $20 and MC is $17. At an output of 18, ATC is $20.20 and MC is $21. We may conclude that the output at which the firm produces at peak efficiency is
A. less than 17.
B. 17.
C. between 17 and 18.
D. 18.
C. between 17 and 18.
Economics
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Everything else held constant, a decrease in the cost of production ________ aggregate ________
A) increases; demand B) decreases; demand C) increases; supply D) decreases; supply
Economics
A monopolist will shut down in the short run if: a. price exceeds marginal revenue
b. price is less than marginal revenue. c. price is less than average total cost. d. price is less than average variable cost.
Economics