If a perfectly competitive firm decides to shut down in the short run, its loss will equal its
A) minimum average variable cost, AVC.
B) total variable cost, TVC.
C) total fixed cost, TFC.
D) average total cost, ATC.
C
You might also like to view...
When goldsmiths issued receipts to gold owners, and those gold receipts circulated while gold stayed in the goldsmiths' safes,
A) the gold receipts were considered money because they were used as a means of payment. B) an infant banking system developed in sixteenth century Europe. C) fiat money was created. D) money was invented. E) Both A and B are correct.
The three main categories of government outlays are
A) net interest payments, government investment, and government consumption expenditures. B) net government subsidies, the government deficit, and government purchases. C) government purchases, transfer payments, and net interest payments. D) government consumption expenditures, government investment, and transfer payments.