a. As the number of firms increases, the market aproaches b. As the number of fi

Question

a. As the number of firms increases, the market aproaches b. As the number of firms increases, the market aproaches equilibrium. As the number of firms decreases, the market ap c. market equilibrium. a monopoly mark a competitive ma approaches a monopolisticall 59. Which relationship represents the consumer's optimum choice? e m aehes-a-earte equitibri rea 60.) A perfectly competitive firm's marginal cost has a minimum value of S4; its a nimum value of $5; and its average total cost has a minimum value of $6.A averagol cost has a iu down? $5 $2 ow $4 d. below $6

Explanation / Answer

Consumer optimum choice occurs where

MUX / MUY = PX / PY

i.e. MUX / Px = MUY / PY

OPTION D

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