A competitive firm in the short run can determine the profit-maximizing (or loss-minimizing) output by equating:
A. price and average total cost.
B. price and average fixed cost.
C. marginal revenue and marginal cost.
D. price and marginal revenue.
Answer: C
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The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$5854464334322221If there were 100 sellers in the market, each with a supply schedule identical to seller 2 in the table above, then the weekly quantity of hamburgers supplied in the market at a price of $5 would be
A. 300. B. 500. C. 400. D. 200.
Explain why East Asian countries have done so well relative to South American countries
What will be an ideal response?
In the United States, a "buy American" act was passed in 1933 to create larger markets for domestic goods
a. True b. False Indicate whether the statement is true or false
The key elements of the Affordable Care Act (ACA) passed in 2010 included all of the following except:
a. a mandate that required every employer with over 50 full-time workers to provide a qualified health plan at an affordable price, or face penalties. b. the establishment of insurance exchanges where individuals who did not have access to employer-sponsored insurance could receive subsidies to purchase private coverage. c. a federal requirement that states extend Medicaid coverage to individuals with family income less than 138 percent of the federal poverty level. d. expanded insurance regulations include guaranteed issue, guaranteed renewability, and no exclusions for pre-existing conditions. e. price controls on brand name pharmaceuticals