Which of the Following Does Not Characterize a Perfectly Competitive

question 69

Multiple Choice

Which of the following does not characterize a perfectly competitive firm that has shut down in the short run?

• A)total revenue equals zero
• B)variable costs equal zero
• C)the firm suffers a loss
• D)fixed cost is positive
• E)fixed cost is zero

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Definitions:

Inflammation

A biological response to harmful stimuli, marked by redness, heat, swelling, pain, and often loss of function, part of the body's immune response.

Scratch Test

An allergy test in which extracts of suspected allergens are applied to the patient’s skin and the skin is then scratched to allow the extracts to penetrate.

Suspected Allergens

Substances believed to cause allergic reactions.

Lancet

A small, sharp medical instrument used for making incisions, especially for taking blood samples.