A Competitive Firm Has a Continuous Marginal Cost Curve

question 43

True/False

A competitive firm has a continuous marginal cost curve.It finds that as output increases, its marginal cost curve first rises, then falls, then rises again.If it wants to maximize profits, the firm should never produce at a positive output where price equals marginal cost and marginal cost decreases as output increases.

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Definitions:

Organizational Goals

The objectives or targets that an organization strives to achieve, which guide its operations and strategic planning.

Qualified Applicants

individuals who meet the specified criteria or requirements for a job, including experience, education, and skills.

Organizational Culture

The shared values, beliefs, practices, and norms that define the social and psychological environment of a business organization.

Internal Recruiting

The process of filling job vacancies within an organization by considering current employees for advancement or lateral job moves.