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Title: If a competitive firm is (i) selling 1,000 units of its product at a price of $9 per unit and (ii) earning a positive pr

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Q:

If a competitive firm is (i) selling 1,000 units of its product at a price of $9 per unit and (ii) earning a positive profit, then

           a.   its total cost is less than $9,000.

           b.   its marginal revenue is less than $9.

           c.    its average revenue is greater than $9.

           d.   All of the above are correct.


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Title: If a competitive firm is (i) selling 1,000 units of its product at a price of $9 per unit and (ii) earning a positive pr

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    • Posted Date: Apr 27, 2012 at 9:24:29 PM

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A:
...sp;        a.   its total cost is less than $9,000.    ...
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