Florida girl's death brings to light tonsillectomy risks. September 23, 2010|By Lorri Helfand and Letitia Stein, St. Petersburg Times. The recent death of a seemingly healthy, 12-year-old Pinellas County girl following a tonsillectomy may have many parents worried about one of the most common surgical procedures performed in children.
In a perfectly competitive market price is equal to marginal revenue. Price will also equal average cost. If price was greater than average cost the firms in the market would be making profit. This would lead to more firms entering (remember no barriers to entry) until profits are eliminated.
In maximizing profit a firm will always produce that output where total revenues are at a maximum. false. After all long-run adjustments have been completed, a firm in a competitive industry will produce that level of output where average total cost is at a minimum. true A competitive firm will produce in the short run so long as its price exceeds its average fixed cost