A firm suffers losses if
A. total revenue is greater than the total variable cost of production but less than total costs.
B. price exceeds average variable cost but is less than average total cost.
C. price exceeds marginal cost.
D. total revenue is greater than the total fixed cost of production.
Answer: A
You might also like to view...
Prior to the 1980s ________
A) the hourly wage of women exceeded that of their male counterparts B) the employment ratio for women was equal to that of men C) a majority of women were not in the labor force D) the majority of men were not in the labor force
Suppose that the market for coffee is in equilibrium at a price of $9.50 per pound and a monthly quantity of 20 million pounds. News of a drought in Brazil arrives so that people know that the supply of coffee months from now will be sharply reduced
What, if anything, will happen in the coffee market now? Explain.
It is impossible to have economic growth unless a country or a region has abundant natural resources to sustain the growth
a. True b. False Indicate whether the statement is true or false
Considering perfect competition, monopolistic competition, and monopoly, which of the market structures results in production of the welfare-maximizing level of output?