Posted by G on .
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?