In the short run, a perfectly competitive firm will always shut down if, at all output levels above zero,
a. price is less than average total cost
b. total revenue is less than total cost
c. they cannot pay variable costs with total revenue
d. variable cost is greater than fixed cost
e. price is less than fixed cost
C
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If a household’s income declines, then its budget line is
A. unaffected. B. going to be steeper. C. shift parallel, closer to the origin. D. shift parallel, further away from the origin. E. become more concave toward the origin.
The amount earned by the tertiary laborer is determined by labor productivity in the primary and secondary sectors of the U.S. economy
Indicate whether the statement is true or false
____ is the rate that applies when banks borrow and lend reserves to one another.
A. The repo rate B. The discount rate C. The coupon rate D. The federal fund rate
A rise in the price of a bond causes the yield of the bond to
A. rise. B. fall. C. remain unchanged. D. rise if it's a short-term bond, fall if it's a long-term bond.