A consultant has advised Consolidated Fish,Inc. ,a perfectly competitive firm,that it should cut back its production in order to increase its profits.We can conclude from this that
A) CF's total costs must be greater than its total revenues.
B) CF's marginal cost must be greater than the price of its product.
C) fixed costs are not being covered and CF should shut down.
D) CF's costs are increasing at a rate less than its revenues.
Correct Answer:
Verified
Q2: To maximize profits,a perfectly competitive firm should
Q3: Statement I.The minimum point on a firm's
Q4: Marginal analysis is useful to a firm
Q5: When MC > MR,the profit maximizing firm
Q6: When a profit maximizing firm produces,they will
Q7: When operating,the loss minimization point is
A)when at
Q8: The lowest point on the firm's long-run
Q9: The firm's short-run supply curve runs up
Q10: At the level of output where marginal
Q11: As output expands beyond the break-even point,the
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