If a firm is operating at a loss in the short run and finds that its price is greater than average variable cost, then in the short run:
a. it should produce where MR = MC.
b. it should produce zero output.
c. it should go out of business.
d. total revenue is less than total variable costs.
e. total revenue is greater than total costs.
a
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Refer to Figure 10-5. Which of the following statements is true?
A) Bundles r and w are not affordable. B) The consumer gets more utility from bundle r than from bundle v. C) The consumer gets less utility from bundle w than from bundle v. D) Bundles r, s, t, and u all cost the same.
You lend $5,000 to a friend for one year at a nominal interest rate of 10%. The CPI over that year rises from 180 to 190. What is the real rate of interest you will earn?
A) 0% B) 4.4% C) 5.5% D) 5.8%
Explain whether you would expect the elasticity of supply to be highly elastic or inelastic for fresh cut flowers and why
What will be an ideal response?
A monopolist can choose a price & quantity combination that is above the demand schedule
a. True. b. False.