The "invisible hand" in a competitive market pushes the firms in the market toMultiple Choice0:04:05use resources...

80.2K

Verified Solution

Question

Economics

The "invisible hand" in a competitive market pushes the firms in the market toMultiple Choice0:04:05use resources and produce output that maximize consumer and producer surplus.produce an output level that allows them to earn some positive economic profits.charge a price that is equal to their marginal revenue.operate where their individual demand curve is above their long-run average cost curve.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students