Ben's Peanut Shoppe suffers a short-run loss. Ben will not choose to shut down if
A) his Shoppe's total revenue exceeds his capital costs.
B) his Shoppe's total revenue exceeds his implicit costs.
C) his Shoppe's total revenue exceeds his fixed cost.
D) his Shoppe's total revenue exceeds his variable cost.
D
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Which of the following is false of perfectly competitive firms?
a. A perfectly competitive market is approximated in highly organized markets for securities and agricultural commodities. b. The perfectly competitive model does not require any knowledge on the part of individual buyers and sellers about market demand and supply curves. c. Because perfectly competitive firms are price takers, each firm's demand curve remains unchanged even when the market price changes. d. In a perfectly competitive market, marginal revenue is constant and equal to the market price.
If the dollar used to buy 360 yen and now buys 100 yen, there has been
A) a decrease in the demand for yen. B) depreciation of the yen. C) depreciation of the dollar. D) appreciation of the dollar.