A price-taking firm will tend to expand its output as long as price exceeds average variable cost and:
A) its marginal revenue is positive.
B) its marginal revenue is greater than the market price.
C) its marginal revenue is less than the market price.
D) its marginal cost is less than the market price.
Correct Answer:
Verified
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Q56: Exhibit 12-1 Q58: A profit-maximizing firm in a perfectly competitive Q59: For a perfectly competitive firm,average revenue is: Q60: A perfectly competitive firm has no influence Q61: Exhibit 12-2 Q62: Exhibit 12-3 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)
