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July 2, 2015

Homework Help: Microeconomics

Posted by G on Friday, August 29, 2008 at 8:25pm.

As a general rule, profit-maximiaing producers in a competitive maket produce ouput at a point where:

A) marginal cost is increasing
B) marginal cost is decreasing
C) marginal revenue is increasing
D) price is less than marginal revenue

I was picking C for the answer?

The short-run supply curve for a firm in a perfectly compptitce marker is:

A) likely to be horizontal
B) likely to slope downward
C) determined by forces external to the firm
D) It's marginal cost curve (above average varible cost)

I was picking B for the answer?

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