If a Profit-Maximizing Firm in a Perfectly Competitive Market Is

question 14

Multiple Choice

If a profit-maximizing firm in a perfectly competitive market is making an economic profit,then it must be producing a level of output where

• A)price is greater than marginal cost.
• B)price is greater than marginal revenue.
• C)marginal cost is greater than marginal revenue.
• D)marginal cost is greater than average total cost.
• E)average total cost is greater than marginal cost.

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Definitions:

Pelvic Examination

A physical exam of the female reproductive organs, conducted by a physician to check for signs of disease or other conditions.

Intrauterine Device

A form of long-acting reversible contraception that is inserted into the uterus to prevent pregnancy.

Mental Health

A state of well-being in which an individual realizes his or her own abilities, can cope with the normal stresses of life, can work productively, and is able to make a contribution to their community.