Which of the Following Constitutes a Necessary Condition for Profit-

question 26

Multiple Choice

Which of the following constitutes a necessary condition for profit- maximization for a perfectly competitive firm?

• A)SMC is equal to price
• B)AFC is convex.
• C)price is equal to AVC
• D)AVC is at a minimum

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Definitions:

Prevention

A concept borrowed from the fields of physical disease, public health, and epidemiology and applied to mental disorders by community psychology. There are three categories of prevention activities: primary prevention, secondary prevention, and tertiary prevention.

Promotion

The act of advancing someone's position or rank, or the process of encouraging the sales, recognition, or enthusiasm for something.

Olds' Prenatal Early Infancy Project

A research initiative focusing on the effects of home visitation by nurses on maternal and child health and development.

PIMS Data

An empirical database used to analyze the determinant's success and failure of strategic business units, standing for Profit Impact of Market Strategies.