In the Short Run,a Firm Operating in a Competitive Industry

question 275

Multiple Choice

In the short run,a firm operating in a competitive industry will produce the quantity of output where price equals marginal cost as long as the

• A) price is less than average total cost.
• B) marginal revenue exceeds the marginal cost.
• C) price is greater than average variable cost.
• D) marginal cost exceeds the marginal revenue.

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Definitions:

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Minimal meaningful units within the grammar of a language.

Unbeliever

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