A firm in a perfectly competitive market will tend to expand its output as long as:
A: its marginal revenue is positive.
B: the market price is greater than the marginal cost.
C: its marginal revenue is greater than the market price.
A: its marginal revenue is positive.
B: the market price is greater than the marginal cost.
C: its marginal revenue is greater than the market price.
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.
- Monopolists will maximize profit by producing at an output level where which of the following conditions exists（） A: Price = marginal revenue = marginal cost. B: Price = demand = marginal revenue = marginal cost. C: Marginal revenue = marginal cost ＜ price.
- For any given price, a firm in a competitive market will maximize<br/>profit by selecting the level of output at which price intersects the<br/>( ) A: average total cost curve. B: average variable cost curve. C: marginal cost curve. D: marginal revenue curve.
- 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 a firm in a perfectly competitive market tries to raise its price above the going market price, then: