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katrin2010 [14]
3 years ago
10

When a perfectly competitive firm finds that its market price is below its minimum average variable cost, it will sell A) the ou

tput where marginal revenue equals marginal cost. B) the output whop average total cost equals price. C) any positive output the entrepreneur decides upon because all of it can be sold. D) nothing at all; the firm shuts down.
Business
1 answer:
julsineya [31]3 years ago
3 0

Answer: When a perfectly competitive firm finds that its market price is below its minimum average variable cost, it will sell D. nothing at all; the firm shuts down.

Explanation: A perfectly competitive firm does not exist because it a theoretical market structure where all firms sell the same product, they are price takers, the market has no influence on price and there is full freedom. If the market price is below what it will cost to produce the products, the firms will stop producing their products and shut down.

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Infant-industry argument

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3 years ago
Duck Company produces a product which sells for $40. Variable manufacturing costs are $18 per unit. Fixed manufacturing costs ar
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Answer:

Contribution margin = $16

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3 0
3 years ago
Finding out how a product or service will do in a certain market is an example of this use of market research: identify if commu
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identify value

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8 0
3 years ago
The kitchen manager at an Italian restaurant is deciding what assignments he should give to his two cooks, John and David. John
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