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patriot [66]
2 years ago
6

If a firm's marginal costs _____ then its _____. Group of answer choices rise; output increases fall; best-response curve shifts

rise; forced out of the oligopoly fall; price falls
Business
1 answer:
ziro4ka [17]2 years ago
7 0

If a firm's marginal costs <u>fall</u>, then its <u>price falls.</u>

This is based on the principle that if the marginal cost of a product or firm rises, that implies that the firm is operating at a high fixed cost, thereby leading to an increase in the cost of production, which generally equates to products having a high price.

On the other hand, where there is low marginal cost, production costs reduce because the products are being produced at a lower fixed cost. Thereby leading to lower prices.

Hence, in this case, it is concluded that "If a firm's marginal costs <u>fall</u>, then its <u>price falls</u>."

Learn more here: brainly.com/question/10474336

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Answer:

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8 0
3 years ago
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Answer:

Cost of goods sold = $8,800

Explanation:

<em>The cost of goods is represents amount incurred to make available  what has been sold. It is computed as follows:</em>

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It is useful to determine the cost of goods so as to calculate the gross profit margin. The gross profit is the sales revenue less cost of goods sold.

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Cost of goods sold = 3,800 + 7,800 - 2,800

= $8,800

Cost of goods sold = $8,800

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