Refer to Table 8.1. That the firm is perfectly competitive is evident from its
A) increasing marginal cost.
B) increasing total cost.
C) zero economic profits.
D) constant marginal revenue.
E) absence of marginal values at Q = 0.
D
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Over the air television signals are ____________ ; television signals available through cable are
a. Public goods, public goods b. Public goods, private goods c. Private goods, private goods d. Private goods, public goods
Suppose that you consume only pizza, which costs $4 per slice, and Diet Pepsi, which costs $2 each. The table above gives your utility from consuming these two goods. If your income is $20, which of the following consumption combinations will you choose?
A. 2 slice of pizza and 6 Diet Pepsis B. 3 slices of pizza and 4 Diet Pepsis C. 5 slices of pizza and no Diet Pepsi D. 4 slices of pizza and 2 Diet Pepsis