Which of the following is always TRUE for a perfectly competitive firm?
A. P = d = AVC
B. P = d = MR
C. AVC = ATC = P
D. MC = MR = AVC
Answer: B
You might also like to view...
Scott owns a law-enforcement training operation in Boise, Idaho. He employs three trainers. The last trainer Scott hired increased Scott's total cost by $466 per week even though the trainer brought in only one new client. Hence Scott's
A) total variable cost equals $466. B) marginal cost of the last client equals $466. C) marginal cost of the last worker equals $233. D) total variable cost equals $233. E) total fixed cost of the last client equals $466.
Transfer payments are not included in national income because: # randomize
A. Such payments are made to persons living abroad B. Double counting would result C. They are illegal D. There is no method to account for these
A "two-tier" labor market in the United States refers to plenty of jobs for ________ workers and few jobs for ________ workers.
A. old; young B. unskilled; highly-skilled C. highly-skilled; unskilled D. southern; northern
Joan Petty, a human resource manager, offers Billy Self $2,750 per month as an inventory manager. She is willing to offer $750 more per month, but Billy does not have that information and walks away from the job offer. This is an example of a
A. bargaining failure. B. bargaining success. C. market in transition. D. market at work.