A perfectly competitive firm will earn positive economic profits in the range of output for which the firm's price is ________ its minimum average total cost.

A. equal to
B. below
C. above
D. below its marginal cost and


Answer: C

Economics

You might also like to view...

What is the difference between labor-saving technology and labor-complementary technology?

What will be an ideal response?

Economics

One factor which brought on the recession of 2007-2009 was the end of the housing bubble

Indicate whether the statement is true or false

Economics

Which of the following factors has led to poor plan performance?

(a) unanticipated changes, such as in terms of trade. (b) corruption of government officials. (c) foreign firms are less subject to the constraints of the plan than domestic ones. (d) all of the above. (e) none of the above.

Economics

The substitution effect of a wage increase: a. results in an increase in the quantity of labor supplied. b. results in a decrease in the quantity of labor supplied. c. has no impact on the quantity of labor supplied

d. results in an increase in the quantity of leisure enjoyed.

Economics