Exhibit 6-4 -For a Competitive Firm, If Any Level of Production Results

question 151

Multiple Choice

Exhibit 6-4
-For a competitive firm, if any level of production results in losses, the loss-minimizing output level is when

• A)marginal product equals marginal cost.
• B)marginal revenue equals marginal cost.
• C)price equals marginal revenue.
• D)total revenue equals total cost.
• E)average revenue equals average cost.

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