A perfectly competitive firm will shut down rather than produce if its
A) price is less than average variable cost.
B) price is less than total variable cost.
C) total revenue is less than total cost.
D) price is less than marginal cost.
A
Economics
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Which of the following statements is CORRECT?
A) The United States produces more goods than services. B) The United States produces more services than goods. C) The United States produces more agricultural goods than manufactured goods. D) The United States produces an equal amount of goods and services.
Economics
Which of the following will decrease the price needed to break even?
a. A decrease in overall fixed but avoidable costs b. A decrease in the marginal costs c. An increase in sunk costs d. Both A&B
Economics