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unrendezvous unrendezvous
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A year ago
Suppose that in a perfectly competitive industry, the market price for the product is $130. A firm is producing the output level at which average total cost equals marginal cost, both of which are $138. Average variable cost is $132. To maximize profits in the short run, the firm should

▸ reduce its output.

▸ expand its output.

▸ produce zero output.

▸ leave its output unchanged.

▸ change the price of the product.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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marcospolosmarcospolos
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A year ago
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unrendezvous Author
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A year ago
Thanks for your help!!
loki1345
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Thank you, thank you, thank you!
jasonbourne
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Brilliant ツ
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