10. When a perfecly competitive firma finds that its market price is beloww its minimum average variable cost, it will sell: a The output where average total cost equals price. O Any positive output the entreprencur decides upon because all of it can be sold C. The output where marginal revenue equals marginal cost. d. Nothing at all; the firm shuts down.
10. When a perfecly competitive firma finds that its market price is beloww its minimum average variable cost, it will sell: a The output where average total cost equals price. O Any positive output the entreprencur decides upon because all of it can be sold C. The output where marginal revenue equals marginal cost. d. Nothing at all; the firm shuts down.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: Firms In Competitive Markets
Section: Chapter Questions
Problem 7PA
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Q16
![10. When a perfecly competitive firma finds that its market price is beloww its minimum
average variable cost, it will sell:
a The output where average total cost equals price.
O Any positive output the entreprencur decides upon because all of it can be sold
C. The output where marginal revenue equals marginal cost.
d. Nothing at all; the firm shuts down.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F525bddd7-92b7-4d61-b6d2-faa7879e3d1f%2Fd56a44fb-0361-487c-a069-9a34e12a131e%2Fyqh89tk.jpeg&w=3840&q=75)
Transcribed Image Text:10. When a perfecly competitive firma finds that its market price is beloww its minimum
average variable cost, it will sell:
a The output where average total cost equals price.
O Any positive output the entreprencur decides upon because all of it can be sold
C. The output where marginal revenue equals marginal cost.
d. Nothing at all; the firm shuts down.
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