If a Perfectly Competitive Firm Is Producing a Rate of Output

question 144

Multiple Choice

If a perfectly competitive firm is producing a rate of output at which MC exceeds price,then the firm

• A)Must have an economic loss.
• B)Can increase its profit by increasing output.
• C)Can increase its profit by decreasing output.
• D)Is maximizing profit.

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Definitions:

Fractures

Breaks in rock or mineral formations where there has been no significant movement on either side.

Unmetamorphosed Sedimentary

Refers to sedimentary rocks that have not undergone metamorphism and retain their original sedimentary characteristics.

Fault Scarps

Steep cliffs or slopes formed by the displacement of the ground surface due to movement along a fault.

Erosion

The process of wearing away rocks and soil by water, wind, or ice, often shaping the Earth's surface.