When a firm has an accounting profit that is negative, it
A) will never produce output, even in the short run.
B) may still have economic profit.
C) has total revenue that is less than total cost.
D) cannot be producing where price equals marginal cost.
C
Economics
You might also like to view...
One reason that it might be difficult for a player to determine his best strategy is that
A) he might have limited ability to calculate the possible outcomes. B) he is irrational. C) there is no pure strategy. D) there are multiple Nash equilibria.
Economics
If the price of wireless phone service decreases and the demand for wired phone services decreases, then wired and wireless phone services are
A) substitutes. B) complements. C) inferior goods. D) elastic goods.
Economics