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19) As long as marginal cost is below marginal revenue, a perfectly competitive firm should A. increase production B. hold production constant C. decrease production D. reconsider past production decisions
As long as marginal cost is below marginal revenue, a perfectly competitive firm should increase production.
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Asked 9/9/2012 12:00:22 PM
Updated 11/11/2015 5:36:03 AM
1 Answer/Comment
Flagged by emdjay23 [11/10/2015 7:38:35 PM], Unflagged by jeifunk [11/11/2015 5:36:00 AM], Edited by jeifunk [11/11/2015 5:36:03 AM]
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As long as marginal cost is below marginal revenue, a perfectly competitive firm should increase production.
Added 11/10/2015 7:38:27 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [11/11/2015 5:36:07 AM]
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Questions asked by the same visitor
Price elasticity of demand is the: A. change in the quantity of a good demanded divided by the change in the price of that good B. change in the price of a good divided by the change in the quantity of that good demanded C. percentage change in price of that good divided by the percentage change in the quantity of that good demanded D. percentage change in quantity demanded of a good divided by the percentage change in the price of that good
Weegy: A. change in the quantity of a good demanded divided by the change in the price of that good. (More)
Question
Updated 2/25/2016 11:59:47 AM
1 Answer/Comment
Price elasticity of demand is the percentage change in quantity demanded of a good divided by the percentage change in the price of that good.
Added 2/25/2016 11:59:44 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [2/25/2016 12:13:12 PM]
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