If it does not shut down, a perfectly competitive firm produces where marginal cost is equal to the marginal revenue
A) only in the short run.
B) only in the long run.
C) always to maximize its profit.
D) only if it is not possible to produce where price equals average variable cost.
E) only if it is not possible to produce where price is greater than average total cost.
C
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Refer to the table below. What is Crunchy Fruits total marginal cost to produce 15,000 units?
Crunchy Fruits makes dried fruit snacks. Crunchy Fruits has a multi-plant firm with two production facilities. The table above summarizes the marginal cost of production at the individual plants and the corresponding quantity produced at the individual plants.
A) $2.25
B) $4.50
C) $3.75
D) $3.25
This table shows individual demand schedules for a market. Price of GoodBarney's DemandBetty's Demand$0.002023$0.501818$1.001611$1.50148$2.00126$2.50105According to the table shown, at a price of $1.00, how much of the good will be demanded by Betty?
A. 11 B. 16 C. 30 D. 46