$1.00 9. (TCO 2) A purely competitive firm's output is such that its marginal cost is $4 and marginalFound in Business: General-Business
Chapter 1, # 0
9. (TCO 2) A purely competitive firm's output is such that its marginal cost is $4 and marginal revenue is $5. Hint: remember that MR = P for Pure Competition and the Profit Maximizing rule. Assuming profit maximization, the firm should (Points : 4)
cut its price and raise its output.
raise its price and cut output.
leave price unchanged and raise output.
leave price unchanged and cut output.
- This tutorial was purchased 1 time and rated No Rating by students like you.
- Posted on Apr 18, 2012 at 7:18:54PM