The profit maximizing condition for a firm selling its output in a competitive market and buying its resources in a competitive market is

In the short run, a firm that incurs losses might choose to produce rather than shut down if the amount of its revenue is less than its fixed cost

Indicate whether the statement is true or false

The presence of association between two variables does not necessarily imply causation for the following reason(s):

a. the association between two variables may result simply from pure chance b. the association between two variables may be the result of the influence of a third common factor c. both variables may be the cause and the effect at the same time d. a and b e. a, b, and c