Multiple Choice
If a firm is producing an output rate at which marginal cost is greater than price, the firm
A) is sustaining economic loss.
B) should increase its output level.
C) should reduce its output level.
D) will not be covering its fixed cost.
Correct Answer:

Verified
Correct Answer:
Verified
Q246: In a perfectly competitive market, if P
Q247: When demand is perfectly elastic, marginal revenue
Q248: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q250: Factors that cause the short-run supply curve
Q251: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q253: Suppose a perfectly competitive industry is in
Q254: The long-run supply curve in a constant-cost,
Q255: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -At the short-run
Q256: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -The firm in
Q257: A perfectly competitive industry's market price is