If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be TRUE at that level of output?
A) p > MC
B) MR > MC
C) p ? AVC
D) All of the above.
C
Economics
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A rent ceiling set below the equilibrium rent will
A) increase search activity. B) decrease search activity. C) have no effect on search activity. D) shift the housing supply curve rightward.
Economics
"All monopolies operate with positive economic profits." Do you agree or disagree? Why?
What will be an ideal response?
Economics