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If price is above average total cost at the output where marginal revenue equals marginal cost, a ...

zmudasam

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If price is above average total cost at the output where marginal revenue equals marginal cost, a ...

Question 1.

A firm must earn an economic profit in order to receive a normal rate of return.

▸ true

▸ false

Question 2.

If price is above average total cost at the output where marginal revenue equals marginal cost, a firm will earn positive economic profits.

▸ true

▸ false

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

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Curtis x.

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More solutions for this book are available here

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zmudasam Author

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5 years ago

I appreciate what you did here, answered it right Smiling Face with Open Mouth

courtneyrmcd

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Thanks for your help!!

wyq2651

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Brilliant ツ

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