Multiple Choice
Which of the following conditions would result in the short run marginal cost curve not correctly reflecting the supply behavior of a profit maximizing firm?
A) The firm is a price taker.
B) Price exceeds average total cost.
C) The elasticity of demand facing the firm is ?3.
D) the firm can vary several inputs in the short run.
Correct Answer:
Verified
Correct Answer:
Verified
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