When price exceeds average variable cost in the short run, a competitive firm's marginal cost curve is regarded as its supply curve because
a. among the various cost curves, the marginal cost curve is the only one that slopes upward.
b. the position of the marginal cost curve determines the price for which the firm should sell its product.
c. the marginal cost curve determines the quantity of output the firm is willing to supply at any price.
d. the firm is aware that marginal revenue must exceed marginal cost in order for profit to be maximized?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When price exceeds average variable cost in the short run, a competitive firm's marginal cost curve is regarded as its supply curve because ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
For a market to exist: A. private property rights must be allocated and defended by government. B. government must guarantee equal treatment for all. C. individuals must be concerned with the social good. D.
Answers (1)
The term referring to representing oneself in a trial is
Answers (2)
hich one of the following refers to the ability of shareholders to undo a company's dividend policy and create an alternative dividend policy by reinvesting dividends or selling shares of stock?
Answers (1)
A movie theater substantially decreases the price of its soda during the same week that a heavily advertised new movie is being released to theaters.
Answers (1)
Suppose that the demand for loanable funds for car loans in the milwaukee area is $10 million per month at an interest rate of 10 percent per year, $11 million at an interest rate of 9 percent per year, $12 million at an interest rate of 8 percent
Answers (1)
New Questions in Business
Which system allows critical business decisions to be made in a timely manner?
Answers (1)
The method of inventory costing in which direct manufacturing costs and manufacturing overhead costs, both variable and fixed, are considered as inventoriable costs is best described as:
Answers (1)
Gabrio Inc. is a merchandising company. Last month the company's merchandise purchases totaled $87,000. The company's beginning merchandise inventory was $19,000 and its ending merchandise inventory was $11,000.
Answers (2)
A project is expected to increase inventory by $15,501, increase accounts payable by $8,865 and decrease accounts receivable by $1,246. What is the project's cash flow from net working capital at time zero?
Answers (1)
One of the disadvantages of issuing stock is that
Answers (2)