Multiple Choice
A firm in competitive price-taker market is maximizing profit at Q = 3,000. Then its fixed cost increases. The profit-maximizing output is now
A) greater than 3,000 and profit decreases
B) less than 3,000 and profit decreases
C) greater than 3,000 and profit is unchanged
D) equal to 3,000 and profit decreases
E) equal to 3,000 and profit increases
Correct Answer:
Verified
Correct Answer:
Verified
Q30: Firms will be much more willing to
Q31: The marginal revenue of a price taker
Q32: The dynamic process of competition<br>A) provides profit-seeking
Q33: A price-taker firm will tend to expand
Q34: In a competitive price-taker market, the actions
Q36: The demand for unionized labor will generally
Q37: Use the figure to answer the following
Q38: Since the demand for a narrowly defined
Q39: Even if a firm is optimistic about
Q40: In a competitive market, profit can be