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21 Mar 2018
46) If a profit-maximizing firm in a perfectly competitive market is making an economic profit, then it must be producing a level of output where A) marginal cost is greater than average total cost. B) marginal cost is greater than marginal revenue. C) price is greater than marginal revenue. D) price is greater than marginal cost. E) average total cost is greater than marginal cost.
46) If a profit-maximizing firm in a perfectly competitive market is making an economic profit, then it must be producing a level of output where A) marginal cost is greater than average total cost. B) marginal cost is greater than marginal revenue. C) price is greater than marginal revenue. D) price is greater than marginal cost. E) average total cost is greater than marginal cost.
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