A competitive firm maximizes profit by choosing the quantity at which a. average total cost is at
Question:
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.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
Answered By
Sandhya Sharma
I hold M.Sc and M.Phil degrees in mathematics from CCS University, India and also have a MS degree in information management from Asian institute of technology, Bangkok, Thailand. I have worked at a international school in Bangkok as a IT teacher. Presently, I am working from home as a online Math/Statistics tutor. I have more than 10 years of online tutoring experience. My students have always excelled in their studies.
4.90+
119+ Reviews
214+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Mark each statement True or False (T/F). Justify each answer. (T/F) If and ad = bc, then A is not invertible. 1=[ A = a b C d
-
Mark each statement True or False (T/F). Justify each answer. (T/F) If and ab - cd 0, then A is invertible. A = a C b d
-
Tell which triangles you can show are congruent in order to prove the statement. What postulate or theorem would you use? LALD A B C D
-
Integer sort. Write a linear-time filter that reads from standard input a sequence of integers that are between 0 and 99 and prints to standard output the same integers in sorted order. For example,...
-
A proton and electron have the same kinetic energy upon entering a region of constant magnetic field. What is the ratio of the radii of their circular paths?
-
The following data give the taxes paid (rounded to thousand dollars) in 2014 by a random sample of 30 families. 11 17 35 3 15 9 21 13 5 19 5 12 8 16 10 8 12 6 14 18 8 12 5 3 14 28 38 18 22 15 a....
-
According to the Supreme Court decision in Quill Corp. v. North Dakota, a state may not require a retailer with no physical presence in the state to collect and remit sales tax on sales made in the...
-
Accounting for R&D Costs during 2008, Robin Wright Tool Company purchased a building site for its proposed research and development laboratory at a cost of $60,000. Construction of the building was...
-
2. Craig likes to collect records. Last year he had 10 records in his collection. Now he has 14 records. What is the percent increase of his collection?
-
A competitive firms short-run supply curve is its _________ cost curve above its _________ cost curve. a. average-total-; marginal b. average-variable-; marginal c. marginal-; average-total d....
-
When a perfectly competitive firm increases the quantity it produces and sells by 10 percent, its marginal revenue _________ and its total revenue rises by _________. a. falls; less than 10 percent...
-
Of these companies, two, HSBC and Starbucks, have been the target of anti-globalization violence. Why these two?
-
1. Evaluate: x 2 lim, -5 -2 0 2 5 C 10x25 x - 5
-
Calculate the time dilation experienced by an observer on the surface of the Earth due to General Relativistic effects using: where Delta t is the time interval for the observer at the surface, Delta...
-
What are the principal types of tax allowance? Should extractive industries benefit from tax allowances or incentives beyond those available to other sectors? What do you understand by recoverable...
-
15. In some jurisdictions, there are "pretrial conterences, where the judge con before trial. Observational data suggest that pretrial conferences promote set fers with the opposing lawyers to settle...
-
a. How do taxes impact financial planning for a client? Income taxes of a taxpayer's income and therefore, an extremely important part of the financial planning process. Any financial plan that does...
-
Following are comparative balance sheets for Millco, Inc., at January 31 and February 28, 2011: Required: Prepare a statement of cash flows that explains the change that occurred in cash during the...
-
If someone's Z-score for a variable was 0.67. Their score is a significant extreme score. Their score is not significant. O Their score is slightly above average. O Their score is an outlier.
-
Abigail, an analyst with a venture capital firm, is approached by Tomas about financing his new business venture, a company which will produce solar-powered hydroponic growing equipment for light...
-
In February 2018, an office tower in Hong Kong known as The Center was sold to a consortium of six Hong Kong investors for the equivalent of 5.15 billion U.S. dollars, the highest price ever paid for...
-
The board of directors of the Estelar Company in Brazil was presented with the following list of investment projects for implementation in 2019: Sketch total investment as a function of the interest...
-
Discuss actions and or activities that can result in "significant influence" when an investor's financial interest is below the 50% level. 2-Some sales are made giving the customer the option of...
-
Crazy Crayon Inc. had been the low-cost producer of traditional BROWN crayons and BLACK crayons, and had enjoyed gross margins over 15% of sales. Several years earlier, the company had seen...
-
What do you think is the basic difference between selling and marketing? give examples both of its! What is the important role of marketing on product sales effectiveness?
Study smarter with the SolutionInn App