A perfectly competitive firm will maximize profits when
A. average cost is greater than marginal revenue.
B. marginal cost is greater than marginal revenue.
C. average cost is equal to average revenue.
D. marginal cost is equal to marginal revenue.
Answer: D
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A) Socialist Cuba B) Socialist China C) Fascist Italy D) Nazi Germany E) None of the above.
Why does the absence of well-defined property rights serve as a stumbling block for the application of the Coase theorem?
What will be an ideal response?
Under TANF, at least 50% of single mother recipients and 90% of two-parent families must be working or in work preparation programs.
A. True B. False C. Uncertain
The point of intersection between an indifference curve and a demand curve is allocatively efficient
a. True b. False Indicate whether the statement is true or false