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29 Jun 2018
Suppose your firm is operating in a perfectly competitive market, and that the minimum average variable cost of producing your good is $30. If the price of the good is $32, your firm should:
A) not produce anything since the price is above the minimum of average variable cost.
B) supply the amount of the good where the marginal cost of production is $30.
C) supply the amount of the good where the marginal cost of production is equal to $32.
D) not consider price when determining the amount to sell.
Suppose your firm is operating in a perfectly competitive market, and that the minimum average variable cost of producing your good is $30. If the price of the good is $32, your firm should:
A) not produce anything since the price is above the minimum of average variable cost.
B) supply the amount of the good where the marginal cost of production is $30.
C) supply the amount of the good where the marginal cost of production is equal to $32.
D) not consider price when determining the amount to sell.
larryrambo777Lv10
16 Mar 2023
2 Jun 2021
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