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20 February, 15:45

A firm could continue to operate for years without ever earning a profit as long as it is producing an output where

a. atc > avc.

b. mr > avc.

c. mr < atc.

d. afc < avc

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Answers (1)
  1. 20 February, 17:54
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    A firm could continue to operate for years without ever earning a profit as long as it is producing an output where

    B. MR >AVC

    MR stands for marginal revenue which is the sale price of a single item sold. On the other hand, AVC or the average variable cost is the firm’s variable costs divided by its output that is produced.
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