A profit-maximizing firm in a competitive market will decrease production when marginal cost exceeds average revenue
a. True
b. False
Indicate whether the statement is true or false
True
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In a typical year, ________ new firms open in the United States
A) more than 400,000 B) more than 1 million C) approximately 125,000 D) less than 200,000
Which of the following is a bank asset?
A) checkable deposits B) savings deposits C) borrowings in the federal funds market D) cash items in the process of collection
Which of the following are NOT characteristics of a competitive market?
A) There is freedom of entry and exit. B) There are zero transaction costs. C) There are only one or two sellers. D) Buyers and sellers have complete information.
In the above figure, if the firm is facing demand curve d2, then to maximize profits it will produce at output level
A) A. B) B. C) C. D) D.