As price falls

Which of the following does not characterize a perfectly competitive firm that has shut down in the short run?

a. total revenue equals zero b. variable costs equal zero c. the firm suffers a loss d. fixed cost is positive e. fixed cost is zero

The entire U.S. federal budget process, beginning with the delivery of the President's budget to Congress and ending with the beginning of the fiscal year, takes about _____

a. one month b. six months c. nine months d. one year e. three months