Perfectly competitive firms will:
A) maximize total revenue by using the marginal decision rule.
B) increase output up to the point that the marginal benefit of an additional unit of output is greater than the marginal cost.
C) increase output up to the point that the marginal benefit of an additional unit of output is equal to the marginal cost.
D) always attempt to minimize average variable cost.
Correct Answer:
Verified
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Q23: For a perfectly competitive firm,marginal revenue:
A)is less
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Q27: A perfectly competitive firm will maximize profits
Q30: If a perfectly competitive firm decreases production
Q33: Total revenue is a firm's:
A)change in revenue
Q34: When perfect competition prevails, which of the
Q37: _ almost always take the market price
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