Consider a Perfectly Competitive Firm in the Short Run

question 153

Multiple Choice

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.Which statement is FALSE?

• 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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Body Size

A physical characteristic of an organism, typically referring to its dimensions or mass, which may affect its survival and reproductive success.

Menopause

The time in a woman's life, typically between ages 45 and 55, when menstrual cycles permanently cease, marking the end of reproductive capability.

Fertility

The natural capability of producing offspring, influenced by factors like health, nutrition, and age in both males and females.

Life Span

The duration of time from the birth to the death of an organism.