When price is greater than both marginal cost and average variable cost, the perfectly competitive firm
A) is maximizing economic profit.
B) should increase its level of output.
C) should reduce its level of output.
D) should stop production.
Answer: B
Economics
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If an increase in income leads to a decrease in the demand for popcorn, then popcorn is
A) a necessity. B) a normal good. C) an inferior good. D) a neutral good.
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The international financial system operated under a gold standard
a. from the 1500s through the present b. from 1879 through the present c. from 1879 to 1914 d. from 1914 to 1939 e. never
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