In order for a firm to continue producing, price must exceed __________ and total revenue must exceed __________.
A) marginal cost; total cost
B) ATC; total cost
C) AFC; total fixed cost
D) AVC; total variable costs
E) price; total cost
Correct Answer:
Verified
Q55: A perfectly competitive firm should increase its
Q56: Consider the following data: equilibrium price =
Q57: Consider the following data: equilibrium price =
Q58: Exhibit 22-3 Q59: In the short-run, if P < ATC, Q61: If firms are earning zero economic profits, Q62: If an industry is in long-run competitive Q63: Resources are allocated efficiently when Q64: If the perfectly competitive firm is producing Q65: The short-run industry supply curve is the
A)the exchange value
A)horizontal
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