When total costs are greater than total revenue,
A) fixed costs must be high.
B) a firm is suffering losses.
C) a firm should shut down immediately.
D) the firm must be producing on the elastic range of its demand curve.
B
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Suppose you borrow $500 from your bank to pay for a guitar. This is an example of
A) direct financing. C) moral hazard. B) indirect financing. D) transaction costs.
During World War II, whenever interest rates would ________ and the price of bonds would begin to ________, the Fed would make open market purchases
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Which of the following would be included in the gross domestic product (GDP)?
a. The monthly telephone bill paid by Mr. Jones b. The corporate stock purchased by Steven c. The used limousine purchased by Harold d. The bricks purchased by a construction company to build a house e. The $300 George saved because he painted his own garage
Perry should specialize in the production of
A. both goods. B. poems. C. novels. D. neither good.