K
Krissy S
Guest
Could someone please tell me if these statements are true or false and why?
If a firm is producing at an output level at which marginal revenue exceeds marginal cost, the firm will increase profits by reducing its output level.
A perfectly competitive firm will shut down in the short run when marginal revenue equals marginal cost at a price below the minimum of average variable cost.
If a perfectly competitive firm charges more than the existing market price, with it will lose half of its customers.
If a firm is producing at an output level at which marginal revenue exceeds marginal cost, the firm will increase profits by reducing its output level.
A perfectly competitive firm will shut down in the short run when marginal revenue equals marginal cost at a price below the minimum of average variable cost.
If a perfectly competitive firm charges more than the existing market price, with it will lose half of its customers.