In the Short Run, If a Firm Shuts Down, Its

question 85

Multiple Choice

In the short run, if a firm shuts down, its total revenue is

• A)$0
• B)equal to its fixed costs
• C)greater than its variable costs
• D)greater than its fixed costs
• E)less than its variable costs

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Definitions:

End A Marriage

The legal termination of a marital union, known as divorce, which dissolves the bonds of matrimony between married individuals.

Court Decree

A formal and authoritative order issued by a court, requiring parties to do or not do something.

Invalidates

To make something legally null and void or to render it ineffective by establishing its incorrectness or inapplicability.

Community Property

A form of ownership between married couples in some states, where assets acquired during the marriage are considered jointly owned.