A perfectly competitive firm definitely will shut down in the short run if its price is below its average total cost

Indicate whether the statement is true or false


FALSE

Economics

You might also like to view...

Suppose that a hurricane destroys part of the tobacco crop in North Carolina

What willhappen to the price of tobacco? What will happen to the marginal product of tobacco field workers as a result of the hurricane? Can we tell what will happen to the demand for tobacco field workers? Explain.

Economics

At the long-run equilibrium level of output, the monopolist's marginal cost will

a. exceed price. b. equal price. c. be less than price. d. be less than marginal revenue.

Economics

The minimally adequate living standard for a U.S. family of four is known as the

A. United Nations Poverty Goal. B. U.S. poverty threshold. C. Global poverty standard. D. Millennium Poverty Goal.

Economics

When the rate of interest is 10 percent, the present value of $100 payable in two years is approximately

A. $80. B. $110. C. $100. D. $83.

Economics