In the short run, if a perfectly competitive firm produced at the quantity of productive efficiency, would it generate the highest profit level possible? Why or why not?
In the short run, a firm producing with productive efficiency would not necessarily generate the highest level possible. Productive efficiency occurs at the lowest point on the ATC curve which can be found where MC = ATC. However, this is not likely to be the same as the quantity of profit maximization which is found at the point where MC = MR.
Economics
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Refer to Table 19-3. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200. B) $1,600. C) $1,400. D) $1,200.
Economics
Macroeconomic stability has been a high priority for the economic policies of the HPAE
Indicate whether the statement is true or false
Economics