Intellectual Olympiad in Economics - 2026 ongoing

Subject: Economics
Level: X
Category: student
Quiz questions: in English
Example question: A firm in a perfectly competitive industry has a marginal cost of $24 at its current output, while the market price is $30. What should the firm do to increase profit, assuming marginal cost is rising? Expand output until marginal cost equals $30, Reduce output until marginal cost equals average total cost, Exit the industry immediately, Keep output unchanged because price exceeds marginal cost