Which of the following does not apply to a firm that has shut down in the short run?
a. Variable cost is zero.
b. Total revenue is zero.
c. Total cost exceeds total revenue.
d. Total cost is zero.
e. Fixed cost is positive.
D
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The function of the financial statement, which colleges ask parents to fill out to make their children eligible for tuition scholarships, is to
A) determine cases of genuine need. B) maintain the college's eligibility for federal assistance. C) permit the college to confine its aid to students who can make most effective use of the aid. D) provide information about the demand curves of potential customers.
As a consumer moves rightward along an indifference curve, the
A) consumer remains indifferent among the different combinations of goods. B) consumer generally prefers the combinations of goods farther rightward along the indifference curve. C) income required to buy the combinations of the goods always increases. D) relative price of both goods falls.