The goal of the perfectly competitive firm is to

A) maximize total revenue.
B) maximize total profits.
C) minimize AFC.
D) minimize ATC.

Answer: B

Economics

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Intellectual property

a. requires copyright protection that is expensive to obtain, but cheap to enforce b. usually ends up being owned by the government c. is costly to produce, but can be transmitted at low cost d. cannot be owned by anyone e. is usually located on college campuses

Economics

A department store chain in Japan uses yen to purchase 500,000 U.S. dollars from a U.S. bank. It then uses these dollars to buy DVDs from a U.S. filmmaker. As a result of these transactions: A. By how much and in what direction did U.S. net exports change? B. By how much and in which direction did U.S. net capital outflow change?

Economics