Suppose ABC Corp

question 37

Multiple Choice

Suppose ABC Corp.is a firm producing newsprint in a perfectly competitive industry.Its output is 1500 tonnes per month,the marginal cost of the last tonne produced is $710,and the average revenue per tonne is $620.In the short run,this firm should

• A)definitely shut down.
• B)The price of the product is not known,so it is not possible to determine.
• C)reduce output.
• D)increase output until marginal revenue is equal to marginal cost.
• E)increase output until average revenue is equal to marginal cost.

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