When the price of tablet devices decreased in the 2010s, there was an increase in the demand for computing apps because tablet devices and computing apps are

If the market price in a competitive market is below the minimum of average variable cost the firm will shut down

Indicate whether the statement is true or false

A profit maximizing perfectly competitive firm would never operate at an output level where a. it would not cover all of its variable costs

b. it was not earning a positive economic profit. c. it was not earning a zero economic profit. d. it was not earning an accounting profit.