If price is equal to average variable cost, a perfectly competitive firm breaks even

Indicate whether the statement is true or false


FALSE

Economics

You might also like to view...

The Keynesians argue that even if the interest rate does __________ in response to a decrease in investment, there is __________ guarantee that spending will increase very much

A) increase; no B) increase; a C) decrease; no D) decrease; a

Economics

A labor union composed of workers in the same industry is called

A) a craft union. B) an industrial union. C) a company shop. D) a guild.

Economics

Suppose that jeans that were fashionable in the 1990s become unfashionable today. If other factors were held constant, then there would be in the market of jeans

A. a leftward shift in the demand curve. B. a rightward shift of the demand curve. C. a leftward movement along the supply curve. D. a rightward movement along the supply curve.

Economics

Refer to Figure 13-4. What is the area that represents the total variable cost of production?

A) 0P0aQa B) P0abP1 C) P1bdP3 D) 0P1bQa

Economics