Multiple Choice
If a perfectly competitive firm is operating in the short run and seeks to maximize profit,the firm should:
A) increase output whenever marginal cost is less than average total cost.
B) increase output whenever marginal revenue is less than marginal cost.
C) choose the output where per-unit profit is greatest.
D) increase output whenever price exceeds marginal cost.
Correct Answer:
Verified
Related Questions
Q66: A profit-maximizing firm that is operating in