A firm will shut down in the short run if the total revenue that it would get from producing and selling its output is less than its
a. opportunity costs.
b. fixed costs.
c. variable costs.
d. total costs.
c
Economics
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What is meant by the statement "People trade, not nations."
What will be an ideal response?
Economics
If an unregulated electric company is a monopolist, faces demand of Q = 100 - 50P, and has constant total costs, the profit-maximizing level of output is
a. 50 b. 100 c. 25 d. 12.5
Economics
Select whether the statement is true or false.
Macroeconomics and microeconomics are concerned with the well-being of only people with jobs and high incomes; they just examine it from a different perspective. A. True *B. False
Economics
Which of the following best describes the economy's stock of equipment and structures?
a. capital b. aggregate demand c. long-term inventory d. aggregate stock
Economics