If a firm is earning a profit, then:
A) the average total cost must be higher than the market price.
B) total revenue must be higher than total cost.
C) the average total cost must be higher than average revenue.
D) marginal revenue is equal to marginal cost.
Correct Answer:
Verified
Q86: Given the exit rule, a firm's long
Q87: In the long run, a firm should
Q88: In the short run, when a firm
Q89: The market price has fallen below a
Q90: If the market price falls below a
Q92: The market price has fallen below a
Q93: In the short run, a firm should
Q94: In the short run, the fixed costs
Q95: If a firm in a perfectly competitive
Q96: Of the curves displayed in the graph
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