If the wage rate is fixed, MLC > wage
Indicate whether the statement is true or false
F
Economics
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When a firm practices perfect price discrimination,
a. Consumer surplus is maximized b. Producer surplus is minimized c. Producer surplus is maximized d. None of the above
Economics
As a firm increases its output in the short run, average fixed cost
a. rises steadily b. falls and then rises c. falls steadily d. rises and then falls e. remains unchanged
Economics