The figure above shows a perfectly competitive firm. The firm will shut down in the short run if total fixed costs
A) are between $201 and $400.
B) exceed $401.
C) are less than $200.
D) exceed total costs.
C
You might also like to view...
Harriet enjoys watching both American Idol and Desperate Housewives on television. Her preferences correspond to the utility function U(A,D) = 2A + 4?D, where A stands for the number of hours she watches American Idol and D is the number of hours she watches Desperate Housewives.
a. How would Harriet rank the following alternatives: 4 hours of American Idol and 2 hours of Desperate Housewives, 2 hours of American Idol and 4 hours of Desperate Housewives and 3 hours of American Idol and 3 hours of Desperate Housewives? b. Suppose that one week, Desperate Housewives is not shown, but there is a two-hour American Idol special (instead of the usual one-hour program). Is Harriet better off or worse off? Explain. c. Would Harriet's preferences change if her utility function was expressed as U(A,D) = 2A + 4?D+6? Why or why not? What will be an ideal response?
If the price was $8, her consumer surplus would be
Demand and Utility Schedules for Packs of Star Wars Trading Cards
A. $27.
B. $19.
C. $8.
D. $3.
The most common form of "forced savings" in the U.S. is:
A. Social Security. B. FICA. C. unemployment insurance. D. Medicare.
If marginal cost is less than average cost, average cost must fall when more units are produced
a. True b. False Indicate whether the statement is true or false