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.
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.
举一反三
- 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.
- 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 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.
- When marginal cost is less than average cost,
- 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.