The profit maximizing output level for a perfectly competitive firm is always where
A. P = AVC.
B. MC = ATC.
C. MC = AVC.
D. P = MC.
Answer: D
You might also like to view...
If we compare income percentages of total income of the lowest quintile in 1968 with 2008, we would find that it was
A. rising. B. staying about the same. C. falling.
In the terminology of macroeconomics, what's the difference between a saver and an investor?
Suppose a U.S. automaker builds and operates a new factory in Italy. Future production from such an investment will
a. increase Italian GDP more than it increases Italian GNP. b. increase Italian GNP more than it increases Italian GDP. c. have no affect on Italian GNP, but will increase Italian GDP. d. have no affect on either Italian GDP or GNP.
During World War II, a nation's opportunity cost of devoting resources to the war effort was ______________.
Fill in the blank(s) with the appropriate word(s).