In the short run, a perfectly competitive profit maximizing firm that has not shut down
A) is operating on the downward-sloping portion of its AVC curve.
B) is operating at the minimum of its AVC curve.
C) is operating on the upward-sloping portion of its AVC curve.
D) is not operating on its AVC curve.
E) can be at any point on its AVC curve.
C
Economics
You might also like to view...
A rightward shift of the supply curve will lead to a(n)
A) decrease in equilibrium price. B) excess supply at the old equilibrium price. C) increase in quantity demanded. D) All of the above.
Economics
The introduction of seat belts increased the number of accidents, even though the number of fatalities decreased. This is most likely a result of
a. Moral hazard b. Adverse selection c. seat belts distracting drivers d. None of the above
Economics