If price is less than marginal cost, then it is optimal for a firm to shut down.
Correct Answer:
Verified
Q13: By comparing the marginal revenue and marginal
Q14: A firm in a competitive market will
Q15: If a seller is a price taker,
Q16: It is possible for firms in a
Q17: The market's short-run supply curve will be
Q19: When individual firms in competitive markets increase
Q20: In a competitive market, marginal revenue will
Q23: If a firm in a competitive market
Q47: In the long run, a competitive market
Q236: All of the following conditions are consistent
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents