In order to continue operating, in the long-run a firm must
a. Charge a price equal to its AVC
b. Charge a price equal to its AFC
c. Charge a price equal to its AC
d. None of the above
c
Economics
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Craft unions exert market control by
A) limiting the demand for labor. B) limiting the supply of labor. C) setting minimum wages. D) setting maximum wages.
Economics
An increase in the supply of money will lead to ____ in equilibrium real GDP and ____ in equilibrium price level.
A. an increase; an increase B. an increase; a decrease C. a decreases; an increase D. a decrease; a decrease
Economics