A firm should shut down in the short run if it s revenue is smaller than its variable costs.
Answer the following statement true (T) or false (F)
True
You might also like to view...
In the short run, a monopolistically competitive firm chooses
A) both its price and its quantity. B) its price but not its quantity. C) its quantity but not its price. D) neither its price nor its quantity.
In a market-oriented economy, the choice between the production of consumer goods and physical capital is the result of decisions made by: a. the government
b. firms and the government. c. households and firms. d. the labor force.
Sue earns income of $80,000 per year. Her average tax rate is 40 percent. Sue paid $4,500 in taxes on the first $30,000 she earned. What was the marginal tax rate on the rest of her income?
a. 15 percent b. 32 percent c. 40 percent d. 55 percent
A nation’s standard of living depends on its population and labor productivity.
Answer the following statement true (T) or false (F)