Top Posters
Since Sunday
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
AndrewKraus AndrewKraus
wrote...
Go to Answer
Posts: 1170
Rep: 0 0
6 years ago
Which of the following statements is true?
A) The total cost of production in a perfectly competitive market can be minimized only when the marginal costs across firms in the market are different.
B) When a competitive market is allowed to operate efficiently, firms end up producing goods using the least amount of scarce resources.
C) Under a perfectly competitive framework, a ruling authority is essentially required to dictate goals for the betterment of society.
D) A firm interested in maximizing profits in a perfectly competitive market will produce output at a level where marginal revenue is equal to the price and greater than the marginal cost.
Textbook 
Microeconomics

Microeconomics


Edition: 1st
Authors:
Read 91 times
2 Replies
Replies
Answer verified by a subject expert
SudzburySudzbury
wrote...
#1
Top Poster
Posts: 542
Rep: 16 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1
University of Kansas Alumni

Related Topics

AndrewKraus Author
wrote...
#2
6 years ago
Excellent answer, thx
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1254 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 602
  
 1166
  
 1056
Your Opinion
Which country would you like to visit for its food?
Votes: 204
Previous poll results: Which 'study break' activity do you find most distracting?