中国大学MOOC: A firm operating in a perfectly competitive industry will continue to operate in the short run but earn losses if the market price is less than that firm’s average variable cost but greater than the firm’s average fixed cost.
举一反三
- A perfectly competitive firm maximizes its profit by producing the output at which its marginal cost equals its ____ A: marginal revenue B: average total cost C: average variable cost. D: average fixed cost.
- A perfectly competitive firm is producing 75 units of output. The market price is $7 and the firm's marginal cost is $8. The firm should:
- If, in long run equilibrium, the competitive price of some good is $16.67, then, for each and every firm in the industry, A: marginal cost > average cost = $16.67. B: marginal cost < average cost = $16.67. C: $16.67 = marginal cost = average cost. D: $16.67 = marginal cost > average cost.
- Assume that a smartphone maker operates in a perfectly competitive market producing 25,000 smartphones per day. At this output level, price is less than this firm's marginal cost. It follows that producing one more smartphone will cause this firm's:
- In short run the shutdown point is that point at which A: price equals marginal cost. B: average fixed cost equals marginal cost. C: average variable cost equals marginal cost. D: average total cost equals marginal cost.