Question
1.The supply curve of a firm in a competitive market is the average variable cost curve above the minimum of marginal cost. 2. In the
1.The supply curve of a firm in a competitive market is the average variable cost curve
above the minimum of marginal cost.
2. In the short run, a firm should exit the industry if its marginal cost exceeds its
marginal revenue.
True or False?
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International Business
Authors: Michael Geringer, Jeanne M. McNett, Michael S Minor, Donald A Ball
1st edition
78029376, 78029370, 1259317226, 978-1259317224
