When a perfectly competitive firm is in long-run equilibrium, what is the relationship between the firm's marginal cost, average total cost, marginal revenue, and price?
What will be an ideal response?
Marginal cost and average total cost equal the market price, which is also the marginal revenue.
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What is "tax incidence"? What determines tax incidence in a competitive market?
What will be an ideal response?
The multiplier is equal to
a. the reciprocal of MPC. b. the reciprocal of MPS. c. MPC + MPS. d. MPC/MPS.
Camp Company had total earnings of $600 million in 2013, out of which it retained 20 percent for future investments. In 2013, its stock featured a dividend yield of 4 percent and 100 million shares were outstanding. The price-earnings ratio for Camp Company stock was
a. 5. b. 150. c. 20. d. 25.
Providing information to internal users' decision making is the purpose of which of the following?
a. Management Reports b. Tax forms c. Financial statements d. Vendor list