The firm's supply curve is made up of the
A. points where MC=MR.
B. points where MC=MR, and they make a profit.
C. points where MC=MR above the minimum of AVC.
D. points where MC=MR, and they make at least breakeven.
Answer: C
Economics
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The above figure shows the payoff matrix facing an incumbent firm. Assuming a fixed cost of entry, will the incumbent deter entry? Why?
What will be an ideal response?
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The pricing of a product at each stage of production as the product moves through several stages is called
A) transfer pricing. B) cost plus pricing. C) penetration pricing. D) monopolistic pricing.
Economics