答案和详解如下： Q16. A perfectly competitive firm will continue to increase output so long as which of the following conditions exists? A) Marginal revenue is positive. B) Market price is greater than marginal cost. C) Marginal revenue is greater than price. Correct answer is B) A perfectly competitive firm will tend to expand its output so long as the market price is greater than marginal cost since price and marginal revenue are equal. In the short term and long term, profit is maximized when marginal cost and marginal revenue are equal (i.e., MC = MR). Q17. A firm in a perfectly competitive industry that seeks to maximize profit is most likely to continue production in the short run as long which of the following conditions exists? Price is equal to or greater than: A) average variable costs. B) average fixed cost. C) marginal cost. Correct answer is A)
If a firm is covering its average variable costs, it will continue to operate in the short run since it is covering some portion of its fixed costs. Q18. Which of the following most accurately describes the relationship between price (P), marginal cost (MC), and marginal revenue (MR) at the profit maximizing output level for a firm in a perfectly competitive industry? A) P > MC < MR. B) P > MC = MR. C) P = MC = MR. Correct answer is C) For a perfectly competitive firm, maximum profit occurs at the output level where marginal revenue equals marginal cost. And, since the demand curve faced by each firm in perfect competition is horizontal, marginal revenue is equal to price. | 
发表于 2009-1-6 13:32
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