Consider Two Firms,A and B,that Are Producing the Same Product

question 87

Multiple Choice

Consider two firms,A and B,that are producing the same product but with different marginal costs.In this case,

• A)a reallocation of output between the firms can lower the industry's total cost.
• B)neither firm is producing its output at the lowest attainable cost.
• C)some resources must be unemployed.
• D)each firm is being wasteful.
• E)one firm is not maximizing profits.

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