As long as price is sufficient to cover ________, the firm is better off by operating rather than by shutting down.
A. marginal revenue
B. marginal cost
C. average fixed cost
D. average variable cost
Answer: D
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A rising short-run average variable cost of production for a firm indicates that
A. marginal cost is below average variable cost. B. average fixed cost is constant. C. marginal cost is above average variable cost. D. average total cost is at its maximum.
Monopolistically competitive firms engage in advertising to increase market share and make demand more inelastic
Indicate whether the statement is true or false
In the market for loanable funds, the law of supply:
A. reflects that more people will choose to save the lower is the interest rate. B. reflects that more people will choose to borrow the higher is the interest rate. C. reflects that more people will choose to borrow the lower is the interest rate. D. reflects that more people will choose to save the higher is the interest rate.
Customer alliances are built upon which of the following?
a. Long-term focus b. Senior leadership involvement c. Cross-organizational teams are widely employed d. Shared risks and rewards e. Open communication and linked information systems f. All of the above