When MFC < MRP, a firm in a competitive market will
A) stop hiring.
B) hire more workers.
C) earn fewer profits.
D) layoff workers.
B
Economics
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A cartel is a group of firms which agree to
A) behave competitively. B) raise the price of their product. C) lower the price of their product. D) increase the amount they produce.
Economics
Total fixed cost are costs that are fixed with respect to:
a. the rate of output. b. time. c. technology. d. the minimum wage or price supports.
Economics