For a Perfectly Competitive Firm, MR = MC at 250

question 8

Multiple Choice

For a perfectly competitive firm, MR = MC at 250 units of output. At 250 units, ATC is greater than AVC. It necessarily follows that

• A)the firm should shut down its operation.
• B)the marginal cost curve must have an upward-sloping portion and a downward-sloping portion.
• C)the firm should continue to produce.
• D)b and c
• E)none of the above

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