题目内容

Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, the average revenue of the 200th unit will be

A. less than $12.
B. more than $12.
C. $12.
D. zero.

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Whenever a perfectly competitive firm chooses to change its level of output, its marginal revenue

A. increases if MR < ATC and decreases if MR > ATC.
B. does not change.
C. always increases.
D. always decreases.

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Suppose that in a competitive market the equilibrium price is $2.50. What is marginal revenue for the last unit sold by the typical firm in this market?

A. Less than $2.50
B. More than $2.50
C. Exactly $2.50
D. The marginal revenue cannot be determined without knowing the actual quantity sold by the typical firm.

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When profit-maximizing firms in competitive markets are earning profits,

A. market demand must exceed market supply at the market equilibrium price.
B. market supply must exceed market demand at the market equilibrium price.
C. new firms will enter the market.
D. the most inefficient firms will be encouraged to leave the market.

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The accountants hired by Forever Fitness have determined total fixed cost to be $75,000, total variable cost to be $130,000, and total revenue to be $125,000. Because of this information, in the short run, Forever Fitness should

A. shut down because staying open would be more expensive.
B. lower their prices to increase their profits.
C. stay open because shutting down would be more expensive.
D. stay open because the firm is making an economic profit.

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Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, the average revenue of the 200th unit will be

A. less than $12. B. more than $12. C. $12. D. zero.

Whenever a perfectly competitive firm chooses to change its level of output, its marginal revenue

Suppose that in a competitive market the equilibrium price is $2.50. What is marginal revenue for the last unit sold by the typical firm in this market?

When profit-maximizing firms in competitive markets are earning profits,

The accountants hired by Forever Fitness have determined total fixed cost to be $75,000, total variable cost to be $130,000, and total revenue to be $125,000. Because of this information, in the short run, Forever Fitness should

A. less than $12.
B. more than $12.
C. $12.
D. zero.