Consider a Perfectly Competitive Firm in the Short Run

question 136

Essay

Consider a perfectly competitive firm in the short run.Assume that it is sustaining economic
losses but continues to produce.At the profit-maximizing (loss-minimizing) output, all of the following statements are correct except:
A.marginal cost is less than average total cost.
B.marginal cost is equal to marginal revenue.
C.price is equal to marginal cost.
D.marginal cost is less than average variable cost.

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