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thanhha78 thanhha78
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6 years ago
Suppose Tim's Cowboy boot factory produces in a perfectly competitive market. Suppose the average total cost of cowboy boots is $65, the average variable cost of cowboy boots is $60, and the price of cowboy boots is $62. If the firm is producing the level of output where marginal cost equals price, then in the short run the firm
A) can increase profit by increasing output.
B) should continue to produce since total revenue exceeds total variable cost.
C) should shut down.
D) is earning a positive economic profit.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
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Quinn1981Quinn1981
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thanhha78 Author
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#2
6 years ago
thnkkkkk .. always right
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