Which of the following is true?
A) If price falls below average total cost the firm will shut down in the short run.
B) Price and marginal revenue are the same in perfect competition.
C) Economic profit per unit is found by subtracting AVC from price.
D) Economic profit is always positive in the short run.
Correct Answer:
Verified
Q37: If a perfectly competitive firm increases production
Q52: If a perfectly competitive firm sells 300
Q53: The difference between total revenue and total
Q54: Use the following to answer question(s):
Exhibit:
Q55: The slope of the total revenue curve
Q56: If a perfectly competitive firm sells 30
Q58: The slope of the total revenue curve
Q59: Which of the following is true?
A) Price
Q61: Use the following to answer question(s):
Exhibit:
Q62: Use the following to answer question(s):
Exhibit:
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