A firm sells 300,000 units per week. It charges $ 35 per unit, the average variable costs are $40, and the average costs are $55 . In the long run, the firm should
a. Shut-down as the firm is making a loss of $15 million per week
b. Shut-down as the firm cannot cover the variable costs
c. Shut down because the price is lower than average cost
d. None of the above
c
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Refer to the table above. What is the marginal revenue of the monopolist when it sells 300 units of its product?
A) $1 B) $2 C) $3 D) $4
If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labor force, 10 million unemployed, and 150 million employed, the employment-to-population rate is
A) 53.3 percent. B) 65.2 percent. C) 46.7 percent. D) 87.5 percent.
Direct transfer programs are generally less efficient and less politically acceptable than subsidy programs
a. True b. False
Which of the following is true of the labor force participation rate? a. When workers become unemployed, the labor force participation rate declines
b. When the unemployed become discouraged workers, the labor force participation rate declines. c. When workers do not fully use their skills, the labor force participation rate decreases. d. Since the 1950s, the labor force participation rate of women has decreased in the United States. e. The trend toward earlier retirement has increased the labor force participation rate in the United States.