Quantity where price is equal to marginal cost

Assignment Help Microeconomics

Reference no: EM131031375

Which of the following statement(s) are true for a perfectly competitive firm that is seeking to maximize profits?

The best production choice is at a quantity where price is equal to marginal cost.

Price is equal to marginal revenue.

A profit-seeking firm should expand production into the zone where marginal cost is greater than marginal revenue.

Reference no: EM131031375

Questions Cloud

Output decisions faced by firms : Assignment you will do a significant portion of work in MS Excel and import it into an MS Word document for submission. You will use the data below to address Price and Output decisions faced by firms that are not in pure competition. Some numbers ma..

Determine the enthalpy change dh of oxygen : Determine the enthalpy change Δh of oxygen, in Btu/lbm, as it is heated from 800 to 1500 R

What is the cournot equilibrium price and output : Assume a market demand curve of 240Q - 10p = 0 , if marginal costs are zero what is the cournot equilibrium price and output?

A profit-maximizing firm in the short run will expand outpu : A profit-maximizing firm in the short run will expand output

Quantity where price is equal to marginal cost : Which of the following statement(s) are true for a perfectly competitive firm that is seeking to maximize profits?The best production choice is at a quantity where price is equal to marginal cost.

Which the firm maximizes : 1.To find the output at which the firm maximizes its profits you MUST know the firm's A. ATC B. AVC C. AFC

Discuss the positioning of boost juice in malaysia : Given the competition from the large number of new market entrants and also the local roadside drinks and juice stalls, develop an appropriate marketing communication strategy for Boost Juice in Malaysia

Legitimate finite probability model : (a) Why is this a legitimate finite probability model? (b) What is the probability that the person chosen is a 15- to 19-year-old who lives with others?

Marginal revenue equals average cost : The profit-maximizing principle of marginal analysis says that firms maximize profits by choosing output such that: marginal benefit (or revenue) is greater than or equal to marginal cost. total benefit (or revenue) equals total cost.

User Account

All Pages