
When will a profit-maximizing firm in a competitive market always make marginal adjustments to production
A) as long as average revenue is greater than average total cost
B) as long as average revenue is equal to marginal cost
C) as long as marginal cost is greater than average total cost
D) as long as price is above or below marginal cost
Correct Answer:
Verified
Q68: When price is below average variable cost
Q69: What happens if a competitive firm is
Q70: What costs do firms that shut down
Q71: What happens if a competitive firm is
Q72: When a firm makes a short-run decision
Q74: Which curve is a firm's short-run supply
Q75: What is one of the most important
Q76: What do we know about the short-run
Q77: Figure 14-3 Q78: When total revenue is less than variable
![]()
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