If the price of a product is $12, its average total cost is $2 and its average total cost is $15 at the profit-maximizing output level,  in the short run the firm:

A. should expand output until MR = MC.
B. cannot cover total fixed costs.
C. experiences a loss.
D. must always shut down.


Answer: C

Economics

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A firm manager is an agent hired by the:

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Economics