If a firm is producing an output rate at which marginal cost is equal price, the firm
A) is maximizing profits.
B) should increase its output level.
C) should reduce its output level.
D) will not be covering its fixed cost.
A
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If the monopoly illustrated in the figure above could engage in perfect price discrimination, then each buyer would pay
A) $2.00. B) $3.00. C) $3.50. D) a different price.
Based on Table 8.3, over 40% of mother-only single parent minority families are poor
Indicate whether the statement is true or false
Given that the firm wants to sell both the versions, how high can the no-name brand be priced?
a. $30 b. $40 c. $60 d. $70
Suppose that new demands greatly reduce the proved reserves of titanium to unexpectedly low levels, and it appears that the new demands will continue. If the market price is unregulated, we should expect that the price will
a. rise sharply, calling forth added exploration and more effective (and more costly) recovery methods, resulting in additional new supplies of titanium. b. rise sharply, calling forth new ways for manufacturers to conserve titanium and to find substitutes for it. c. over time, bring the quantity supplied of titanium into balance with the quantity demanded. d. do all of the above.