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This Graph Represents the Cost and Revenue Curves of a Firm

Question 129

Multiple Choice

This graph represents the cost and revenue curves of a firm in a perfectly competitive market. This graph represents the cost and revenue curves of a firm in a perfectly competitive market. According to the graph shown,if a firm is producing at Q3: A) profits are being maximized. B) average total costs exceed the market price. C) the firm should expand production. D) marginal revenue is greater than marginal cost. According to the graph shown,if a firm is producing at Q3:


A) profits are being maximized.
B) average total costs exceed the market price.
C) the firm should expand production.
D) marginal revenue is greater than marginal cost.

Correct Answer:

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