Question 7 1 pts A profit-maximizing firm in a perfectly competitive market continues to operate even though it is losin
Posted: Thu May 19, 2022 8:06 am
- Question 7 1 Pts A Profit Maximizing Firm In A Perfectly Competitive Market Continues To Operate Even Though It Is Losin 1 (69.35 KiB) Viewed 72 times
Question 7 1 pts A profit-maximizing firm in a perfectly competitive market continues to operate even though it is losing money. It sells its product at a price of $220. Therefore, (select the best answer) 1. Average total cost is higher than $220. 2. Average fixed cost is higher than $220. 3. Average variable cost is higher than $220. 4. Both (1) and (3) are correct. 5. Both (2) and (3) are correct. 6. Marginal cost is increasing. 7. Marginal cost is decreasing. Please type in the number corresponding to the correct answer. 1