uppliers of bread. ess than one, a decrease in the price of bread will lower t.8

Question

uppliers of bread. ess than one, a decrease in the price of bread will lower t.8 Normal profit implies that: a) All factors employed are earning an amount equal to their opportunity cots b) Firms are earning enough to cover all the costs of production. c) Price must be greater than average variable cost. d) All of the above. 1.9 A firm finds that by producing and selling the last unit of ts product, the margina the marginal cost it incurs is R35. In order to maximise profits, the fit is a monopolistic firm. a) Decrease its output if it is a perfectly competitive firm, but no b) Decrease its output if it is a monopolistic firm, but not necessarily if it is a perfectly competive c) Increase its output irrespective of the type of firm it is. d) Decrease its output irrespective of the type of firm it is. necessarily if it is a monopolistic firm. UDROOK: JULY 2018 INTAKE

Explanation / Answer

1.8 option D is correct

All of the above

1.9 Option D is correct

Decrease it's output irrespective of the type of firm it is

For profit maximization MC = MR  

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.