Answer the following questions true (T) or false (F)
1. For a perfectly competitive firm, average revenue equals marginal cost at the profit-maximizing output.
2. A perfectly competitive firm breaks even at a price equal to its minimum average total cost.
3. Maximizing average profit is equivalent to maximizing total profit.
1. TRUE
2. TRUE
3. FALSE
Economics
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When the value of the dollar changes from £0.75 to £0.5, then the British pound has ________ and the U.S. dollar has ________
A) appreciated; appreciated B) depreciated; appreciated C) appreciated; depreciated D) depreciated; depreciated
Economics
Which of the given nations would be high-income countries (IACs), according to the World Bank?
A. Country C only.
B. Countries B, C, and D.
C. Countries B, C, D, and E.
D. Countries B and C.
Economics