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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 |
Thanks again for your wonderful site ... it definitely made the difference.
Craig Baugh
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® 2025 Level I Curriculum, Volume 1, Module 1.