A firm will shut down permanently if total revenue is not sufficient to pay for total costs in the long run

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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If the price level should increase in the near term due to decreases in the short-run aggregate supply, the result would be

A) demand-pull inflation. B) demand-pull recession. C) cost-push inflation. D) cost-pull expansion.

Economics

The factor of production that is always fixed in the short run is

a. the amount of raw materials b. the size of the physical plant c. the number of workers d. energy costs e. quantity of output

Economics

The position of a demand curve is unaffected by changes in the price of the good

a. True b. False Indicate whether the statement is true or false

Economics

In the above figure, what is the equilibrium level of real consumption spending?

A. $2.0 trillion B. $3.0 trillion C. $0.0 trillion D. $1.0 trillion

Economics