In the short-run, a competitive firm is said to break-even if at equilibrium the:
a. price is equal to marginal revenue.
b. price is equal to average revenue.
c. price is equal to average variable cost.
d. price is equal to the average total cost.
e. price is equal to marginal cost.
d
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Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080If Alexandra were to export a good, which one(s) would she export?
A. Sweaters B. Scarves C. Both sweaters and scarves D. Neither sweaters nor scarves
The demand for durable goods
A) declines by a greater percentage than does GDP during a recession. B) declines by a smaller percentage than does GDP during a recession. C) rises by a greater percentage than does GDP during a recession. D) has decreased over time.
The AD curve shifts to the right with an increase in taxes or a decrease in government purchases
Indicate whether the statement is true or false
If MUx/Px < MUy/Py, then
A. spending a dollar less on Y and a dollar more on X increases utility. B. X is more expensive than Y. C. Y is more expensive than X. D. spending a dollar less on X and a dollar more on Y increases utility.