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A perfectly competitive firm is advised to close down when the

Economics
JAMB 2006
A perfectly competitive firm is advised to close down when the
  • A. price is below the marginal cost
  • B. price is equal to the marginal revenue
  • C. marginal revenue is equal to the marginal cost
  • D. price is below the average variable cost
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Correct Answer: Option D
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts