When price is greater than marginal cost for a firm in a competitive market,
a. marginal cost must be falling.
b. the firm must be minimizing its losses.
c. there are opportunities to increase profit by increasing production.
d. the firm should decrease output to maximize profit.
c
Economics
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Economic freedom and economic prosperity are
A) positively correlated. B) negatively correlated C) not correlated. D) inconsistent with human rights.
Economics
In summarizing the research on the externalities associated with driving cars, a 2007 Journal of Economic Literature article concluded that the optimal corrective tax on gasoline in the United States, in 2015 dollars, would be about
a. $0.50 per gallon. b. $0.90 per gallon. c. $2.58 per gallon. d. $2.78 per gallon.
Economics