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.
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.
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.
[此贴子已经被作者于2009-1-6 13:49:23编辑过] |