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Basic Question 7 of 8
Because the marginal cost curve tells us how much output a firm will produce at a given price, the marginal cost curve is the firm's ______.
B. marginal revenue curve
C. supply curve
A. average cost curve
B. marginal revenue curve
C. supply curve
User Contributed Comments 1
| User | Comment |
|---|---|
| Bududeen | This should read.... In a perfectly competitive market, a firm chooses output ,at least, at the point where it's marginal cost equals the market price. ..because the firm is a price-taker |
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Learning Outcome Statements
determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition
CFA® 2024 Level I Curriculum, Volume 1, Module 1.