A firm will make a profit when
A) P > AVC. B) P = MC. C) P > ATC. D) P = ATC.
C
Economics
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The ________ of a project is the sum of all costs and benefits associated with the project, using present values to make the costs and benefits comparable
A) discounted value B) cumulative present value C) net present value D) gross present value
Economics
Advertising by firms in monopolistic competition
A) provides consumers with no useful information. B) does not occur. C) can persuade customers that product differentiation exists. D) wastes resources because the entry of rivals forces firms to be price takers.
Economics