Solved

In a Perfectly Competitive Market, If a Firm Finds It

Question 223

Multiple Choice

In a perfectly competitive market, if a firm finds it is producing an amount of output such that its marginal cost exceeds its price, it will


A) immediately shut down for the short run.
B) be maximizing profits.
C) increase its output to increase its profit.
D) decrease its output to increase its profit.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q218: A perfectly competitive firm produces so that

Q219: Bubba's BBQ has fallen on some hard

Q220: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -Suppose the cost

Q221: A perfectly competitive firm definitely will shut

Q222: The apple market is perfectly competitive and

Q224: In the long run, for a perfectly

Q225: In a perfectly competitive market, which of

Q226: Marginal revenue is equal to<br>A) total revenue

Q227: In the short run a perfectly competitive

Q228: A perfectly competitive market is characterized by<br>A)