For a firm in a perfectly competitive market, a price decrease:
A. lowers the profit-maximizing quantity.
B. is unrelated to the profit-maximizing quantity.
C. increases the profit-maximizing quantity.
D. signifies the firm should leave the market.
Answer: A
Economics
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An increase in physical capital or a technological advance
A) raises the real wage rate. B) decreases the quantity of labor employed. C) shifts the production function downward. D) decreases demand for labor.
Economics
Using a figure show that under full employment, a temporary fiscal expansion would increase output (over-employment) but cannot increase output in the long run
What will be an ideal response?
Economics