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mbowdish mbowdish
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4 years ago

Question 1.

The main decision for a profit-maximizing perfectly competitive firm is not what ________ but what ________.



▸ level of output to produce; price to charge

▸ price to charge; level of output to produce

▸ level of output to produce; total revenue to achieve

▸ price to charge; total cost to achieve

Question 2.

If a perfectly competitive firm's average total cost curve is above its demand schedule at every level of output, then the firm will earn ________ profits.



▸ positive

▸ break-even

▸ negative

▸ zero
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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urbacoreurbacore
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4 years ago
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mbowdish Author
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#2
4 years ago
Appreciate the effort, thank you!
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