QUESTION 15If a firm decides to exit the market will be payingO a. only the fixed costs but not the variable costs.O b. neither variable costs nor fixed costs.Oc only the variable cost but not the fixed cost.O d. both variable costs as well as fixed costs.QUESTION 16Which of the following is true for a perfectly competitive firm?O The price of the product is equal to marginal revenue at all times.The price of the product is equal to marginal cost at all times.Marginal cost is equal to marginal cost at all timesTotal revenue is equal to total cost at all times.

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QUESTION 15 If a firm decides to exit the market will be paying a. only the fixed costs but not the variable costs. O b. neither variable costs nor fixed costs. O c only the variable cost but not the fixed cost. Od. both variable costs as well as fixed costs.

QUESTION 15 If a firm decides to exit the market will be paying a. only the fixed costs but not the variable costs. O b. neither variable costs nor fixed costs. O c only the variable cost but not the fixed cost. Od. both variable costs as well as fixed costs.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition

Section: Chapter Questions

Problem 6E

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