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A) its marginal revenue is less than $3.56.
B) its marginal revenue is equal to $3.56.
C) its marginal revenue is more than $3.56.
D) its average total cost is less than $3.56.
E) Both answers A and D are correct.
F) All of the above
G) A) and B)
G) A) and B)
Correct Answer
verified
Correct Answer
verified
A) Firms cannot make an economic profit in the long run.
B) Firms compete on their product's price as well as its quality and marketing.
C) There are a large number of independently acting sellers.
D) Firms can make an economic profit in the short run.
E) There are no barriers to entry.
F) B) and C)
G) A) and E)
G) A) and E)
Correct Answer
verified
Correct Answer
verified
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