In the short run, the relevant costs for a firm to consider whether to shut down production are:
A. average total costs.
B. average variable costs.
C. average fixed costs.
D. fixed costs.
B. average variable costs.
You might also like to view...
The former Soviet Union was known for black markets. An explanation for the existence of these illegal markets is that:
a. goods were not subject to price controls. b. the government imposed a price ceiling below the equilibrium price. c. the government imposed a price ceiling above the equilibrium price. d. all of these.
In a market system, incomes are distributed according to the:
a. principle of equality. b. directions of a central authority. c. needs of the people. d. ownership of resources. e. objectives of a planning commission.
If Canada is growing too rapidly, and at the same time is agreeing to work toward reducing its trade surplus, Canada could forsake:
A. none of its international commitments. B. its domestic goal but not its international commitment. C. none of its domestic goals. D. its domestic goal and its international commitment simultaneously.
Under Temporary Aid to Needy Families (TANF), a recipient loses their cash benefits when they get a job.
Answer the following statement true (T) or false (F)