Consider a Perfectly Competitive Firm in the Following Position: Output

question 28

Multiple Choice

Consider a perfectly competitive firm in the following position: output = 4000 units,market price = $1,total fixed costs = $2000,total variable costs = $2000,and marginal cost = $1.To maximize profits the firm should

• A)reduce its output.
• B)expand its output.
• C)produce zero output.
• D)increase the market price.
• E)not change its output.

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Definitions:

Recording

The process of capturing data, events, or performances onto a storage medium for later retrieval and analysis.

Case Continuity

The consistent and coherent management and follow-up of a client's or patient's care or legal case over time.

Computer Abilities

Skills and competencies related to the effective use of computer hardware and software.