A firm that is operating at a loss may continue to operate for a while because of costs that it will still have to pay even if production ceases
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The change in total cost resulting from a one-unit increase in production is called: a. average fixed cost
b. average variable cost. c. marginal cost. d. marginal revenue.
Economics
As price increases, firms in a perfectly competitive market find that it is:
A. beneficial to produce fewer units of output. B. more difficult to sell their product. C. easier to sell their product. D. beneficial to produce more units of output.
Economics