Refer to the diagram. If a firm produces output Q ₁ at a unit cost of c, then the
A)firm is operating in a purely competitive industry.
B)firm is maximizing profits.
C)marginal product per dollars' worth of each resource employed is not the same.
D)firm is fulfilling the least-cost rule in employing resources.

Question

Refer to the diagram. If a firm produces output Q ₁ at a unit cost of c, then the
A)firm is operating in a purely competitive industry. 
B)firm is maximizing profits. 
C)marginal product per dollars' worth of each resource employed is not the same. 
D)firm is fulfilling the least-cost rule in employing resources.

Quizplus · Accepted Answer

The Answer of  Refer to the diagram. If a firm produces output Q ₁ at a unit cost of c, then the
A)firm is operating in a purely competitive industry. 
B)firm is maximizing profits. 
C)marginal product per dollars' worth of each resource employed is not the same. 
D)firm is fulfilling the least-cost rule in employing resources.

Refer to the Diagram