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Title: When price is less than average variable cost at the profit-maximizing level of output, a firm ... Post by: hiusy98 on Jan 23, 2017 When price is less than average variable cost at the profit-maximizing level of output, a firm should:
A) continue to produce the level of output at which marginal revenue equals marginal cost if it is operating in the short run. B) continue to produce the level of output at which marginal revenue equals marginal cost if it is operating in the long run. C) shutdown, because it will lose nothing in that case. D) shutdown, because it cannot even cover all of its variable costs let alone its fixed costs if it stays in business. Title: Re: When price is less than average variable cost at the profit-maximizing level of output, a firm ... Post by: sofresh on Jan 23, 2017 Content hidden
Title: Re: When price is less than average variable cost at the profit-maximizing level of output, a firm ... Post by: hiusy98 on Mar 27, 2017 This course was so challenging before I signed up here, thanks
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