Multiple Choice
If, for the last unit of a good produced by a perfectly competitive firm, MR > MC, then in producing it, the firm
A) added more to total costs than it added to total revenue.
B) added more to total revenue than it added to total cost.
C) is maximising marginal profit.
D) has minimised its losses.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q7: What is meant by the term "long-run
Q32: If price = marginal cost at the
Q41: If a firm shuts down in the
Q61: A perfectly competitive wheat farmer in a
Q108: Table 8.1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1015/.jpg" alt="Table 8.1
Q114: By what is the price of a
Q116: In a graph with output on the
Q135: If a typical firm in a perfectly
Q173: The market demand curve in a perfectly
Q286: A firm would decide to shut down