Refer to the accompanying graph. If this firm is a price taker and the price of each unit of output is $15, then this firm should:
A. shut down in the short run.
B. lower its output to decrease its marginal cost.
C. raise its price to increase its revenue.
D. produce 60 units of output.
Answer: D
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Today's forward rate must equal the future spot rate
Indicate whether the statement is true or false
Since 1940 the percentage of elementary and secondary educational expenditures financed by local governments _____
a. declined by around 10 percentage points b. increased by around 10 percentage points c. increased by around 5 percentage points d. declined by around 15 percentage points
A single supplier of a good or service for which there is no close substitute is referred to as a(n)
A) strategic competitor. B) monopoly. C) oligopoly. D) monopolistic competitor.
The two types of asymmetric information situations are those with
a. hidden costs and hidden actions b. hidden characteristics and hidden costs c. hidden actions and hidden selection d. hidden characteristics and hidden actions e. moral hazard and natural selection