Suppose a Perfectly Competitive Firm Can Increase Its Profits by Increasing

question 187

Multiple Choice

Suppose a perfectly competitive firm can increase its profits by increasing its output.Then it must be true that the firm's _____ exceeds its _____.

• A)marginal revenue;marginal cost
• B)price;average total cost but is less than marginal cost
• C)marginal cost;marginal revenue
• D)price;marginal revenue

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Definitions:

Global Economy

The international spread of capitalism, especially in recent decades, across national boundaries and with minimal restrictions by governments.

Dambisa Moyo

An international economist and author known for her work on global economic issues, including aid, poverty, and global financial systems.

Foreign Aid

Economic, technical, or military assistance given by one nation to another for purposes of relief and rehabilitation, for economic stabilization, or for mutual defense.

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A dependency on resources, processes, or systems that is deemed unsustainable or harmful to the natural environment or society.