Question:

I need help in Microeconomics please!!!?

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1. If a perfectly competitive firm is producing where Marginal Revenue is less than Marginal cost (MR<MC), it should:

choose TWO

increase output

decrease output

leave output unchanged

increase price

decrease price

leave price unchanged

2. If a competitive price searching firm is producing where MR<MC , it should:

choose two answers

increase output

decrease output

leave output unchanged

increase price

decrease price

leave price unchanged

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  1. 1:

    decrease output

    leave price unchanged

    2:

    decrease output

    increase price

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