In the short run, if a firm produces the level of output at which marginal revenue is equal to marginal cost but price is less than average total cost, the firm will.

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30-11-2021
Business

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In the short run, if a firm produces the level of output at which marginal revenue is equal to marginal cost but price is less than average total cost, the firm will.

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Tundexi Tundexi · Answer 1 · 2021-12-10T10:37:23+01:00

When the firm produces at level of output where marginal revenue equal marginal cost but the price is less than average total cost, then, the firm will continue to operate if price is greater than its average variable cost,

In practice, a perfectly competitive firms will continue to produce output until the marginal revenue equals marginal cost (MR=MC)

When the firm produces at level of output where marginal revenue equal marginal cost but the price is less than average total cost, then, the firm will continue to operate if price is greater than its average variable cost,

Therefore, the Option C is correct.