Which statement is true?
A) Price is calculated by dividing output by total revenue.
B) The lowest point on the short-run supply curve is at the break-even point.
C) When price exceeds marginal cost,a profit-maximizing firm will decrease production.
D) The marginal cost curve intersects the average total cost curve at the break-even point.
Correct Answer:
Verified
Q61: Which statement is false?
A)A profit-maximizing perfectly competitive
Q62: If firms are making profits under perfect
Q63: If the price were $60,this firm would
Q64: Q65: To maximize profits,a firm should produce output Q67: The perfect competitor's demand curve is 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
A)perfectly elastic.
B)relatively
