29. In the long run, a profit maximizing firm will choose to exit a market when a. fixei costs exceed total costs O totai revenue from production is less than total costs c average fixed cost is rising d. marginal cost exceeds marginal revenue at the current level of production

29. In the long run, a profit maximizing firm will choose to exit a market when a. fixei costs exceed total costs O totai revenue from production is less than total costs c average fixed cost is rising d. marginal cost exceeds marginal revenue at the current level of production

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

29. In the long run, a profit maximizing firm will choose to exit a market when
a. fixei costs exceed total costs
O totai revenue from production is less than total costs
c average fixed cost is rising
d. marginal cost exceeds marginal revenue at the current level of production

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