If price is less than average cost,:
A) the firm may still make profits as long as marginal cost is low.
B) the firm's maximum profit is a loss.
C) there is no profit-maximizing rate of output.
D) marginal cost must be high.
Correct Answer:
Verified
Q89: Figure: Profits Q90: Figure: Calculating Profits Q91: Use the following to answer questions : Q92: When marginal cost is rising, the average Q93: Profit is positive whenever price is greater Q95: Which statement about cost is correct? Q96: Whenever marginal cost is greater than the Q97: Use the following to answer questions: Q98: The typical average cost curve in a Q99: Use the following to answer questions :
A) Marginal
Figure: Costs
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