If a firm finds that its marginal cost is greater than its price,it
A) Should reduce production.
B) Is maximizing its profit.
C) Should increase production.
Correct Answer:
Verified
Q22: Profit per unit is equal to
A)Price divided
Q23: In a competitive market,
A)Buyers don't have market
Q24: The behavior expected in a competitive market
Q25: To maximize profits,a competitive firm will seek
Q26: If the products of two firms are
Q28: Perfectly competitive firms cannot individually affect market
Q29: Which of the following is characteristic of
Q30: The competitive market model is important because
A)It
Q31: Which of the following characterizes a firm
Q32: Examples of barriers to entry include
A)Price taking.
B)Patents.
C)Standardized
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