Claude's Copper Clappers sells clappers for $60 each in a perfectly competitive market. At its present rate of output, Claude's marginal cost is $65, average variable cost is $25, and average total cost is $62 . To improve his profit/loss situation, Claude should
a. increase output
b. reduce output but not to zero
c. maintain the present rate of output
d. shut down
e. raise the price
B
Economics
You might also like to view...
A(n) ________ variable is calculated from within the model. A(n) ________ variable can never be taken as given
A) endogenous; endogenous B) exogenous; endogenous C) endogenous; exogenous D) exogenous; exogenous E) none of the above
Economics
Positive externalities can be more easily measured than negative externalities
Indicate whether the statement is true or false
Economics