A firm can stay in business while taking a loss in the short run as long as it covers its
A. fixed costs.
B. variable costs.
C. fixed and variable costs.
D. A firm can never stay in business when it experiences losses.
Answer: B
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In a winner-take-all labor market,
a. anyone who is hired at any wage is a winner b. any firm that can hire a worker is a winner c. a few key people critical to the overall success of the enterprise are rewarded with substantial pay d. the person most critical to the overall success of an enterprise is rewarded with substantial pay, and everyone else is paid the median wage e. only one worker is paid
The Great Depression of the 1930s led to a revolution in macroeconomic thinking, following the work of
a. Arthur Laffer. b. Milton Friedman. c. Adam Smith. d. John Maynard Keynes. e. David Ricardo.
Over the past 50 years, the U.S. poverty rate was at its lowest level in
a. 1973. b. 1980. c. 1990. d. 2008.
The __________________________: is a general method for appraising all types of properties involves comparing the subject property with comparable properties (similar properties) that have sold recently.
Fill in the blank(s) with the appropriate word(s).