A firm will shut down in the short run if, for all positive levels of output,
a. its losses exceed its fixed costs.
b. its total revenue is less than its variable costs.
c. the price of its product is less than its average variable cost.
d. All of the above are correct.
d
Economics
You might also like to view...
If a nation trades with another nation in a foreign currency (such as some commodities sold that are priced in U.S. dollars), then, when nominal exchange rates change, the real effective exchange rate will:
a. change by more. b. change by less. c. change in exactly the same proportion. d. not change at all.
Economics
An unexpected rise in Capacity Utilization should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Economics