22.Average total cost is equal to:
举一反三
- A competitive firm maximizes profit by choosing the quantity at which ( ) A: average total cost is at its minimum. B: marginal cost equals the price. C: average total cost equals the price. D: marginal cost equals average total cost.
- A profit-maximizing monopolist will produce the level of output at which A: average revenue is equal to average total cost. B: average revenue is equal to marginal cost. C: marginal revenue is equal to marginal cost. D: total revenue is equal to opportunity cost.
- When the total revenue is equal to total cost, the are said to be at the break-even point.
- A c______ total loss is a situation where the cost of repairs plus the cost of salvage equal or exceed the value.
- Average variable cost and average total costs get closer together as output increases because: