A firm should shut down in the short run if it s revenue is smaller than its variable costs.

A firm's average total cost is $80, its fixed cost is $1000, and its output is 100 units. Its average variable cost

A) is less than $40. B) is between $40 and $60. C) is more than $60. D) cannot be determined without more information.

When box office receipts are not corrected for inflation,

a. The Sound of Music ranks as the most popular movie of all time. b. Gone with the Wind does not rank as one of the 50 most popular movies of all time. c. Titanic ranks as the most popular movie of all time. d. Avatar does not rank as one of the 50 most popular movies of all time.