If a Perfectly Competitive Firm Is Operating in the Short

question 137

Multiple Choice

If a perfectly competitive firm is operating in the short run and seeks to maximize profit,the firm should:

• A) increase output whenever marginal cost is less than average total cost.
• B) increase output whenever marginal revenue is less than marginal cost.
• C) choose the output where per-unit profit is greatest.
• D) increase output whenever price exceeds marginal cost.

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Definitions:

Case Labels

Utilized in switch statements in many programming languages to define distinct execution paths based on the value of a variable.

Any Order

Any order indicates that the arrangement or sequence of items does not matter.

Break Statements

Used in programming to prematurely exit loops or switch statements, immediately transferring control to the statement following the loop or switch.

Default Case

In switch statements, the case that is executed if none of the case conditions match the provided value.