18. New firms will exit aheriesty.competinve mzrket when: 1 average variable costs are less han average total costs b. price is greate: than average variable costs e maginal revenue is greater than average total costs in the short run O price is less than average total cests in the long rua

18. New firms will exit aheriesty.competinve mzrket when: 1 average variable costs are less han average total costs b. price is greate: than average variable costs e maginal revenue is greater than average total costs in the short run O price is less than average total cests in the long rua

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 6PA: A firm in a competitive market receives 500 in total revenue and has marginal revenue of 10. What is...

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Question

18. New firms will exit aheriesty.competinve mzrket when:
1 average variable costs are less han average total costs
b. price is greate: than average variable costs
e maginal revenue is greater than average total costs in the short run
O price is less than average total cests in the long rua

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