Overexpansion can cause a perfectly competitive firm to ________.
A) produce at a quantity where the market price exceeds the firm's average total cost
B) produce at a quantity where the marginal revenue exceeds the firm's average total cost
C) produce at a quantity where the average total cost exceeds the market price
D) earn economic profit
C) produce at a quantity where the average total cost exceeds the market price
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The higher the exchange rate today, the
A) smaller is the expected profit from buying U.S. dollars today and holding them. B) greater is the expected profit from buying U.S. dollars today and holding them. C) smaller is the expected profit from buying foreign currency today and holding it. D) greater the quantity of U.S. dollars demanded in the foreign exchange market today.
When the marginal social cost is greater than the private social cost then the good is _____.
a. under consumed b. under produced c. over produced d. over consumed
The legally bound obligation to pay debts:
a. note of stockhold b. dividend c. note of Stockholm d. liability e. stock and bondhold
Assume the following data: Sales = 3200; Cost of goods sold = 1600; Average total assets = 1600; Average inventory = 200. Calculate the days in inventory.
A) 18.3 B) 45.6 C) 22.8 D) 16.0