Which Statement Is TRUE

question 87

Multiple Choice

Which statement is TRUE?

• A)If price falls below average variable cost,the firm will shut down in the short run.
• B)Total revenue and marginal revenue are the same in perfect competition.
• C)Economic profit per unit is found by subtracting MC from price.
• D)Economic profit is always positive in the long run.

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Definitions:

Radioisotopes

Isotopes of elements that are radioactive, emitting radiation as they decay, used in various industries including medicine for diagnostics and treatment, and in scientific research.

Gamma Rays

High-energy electromagnetic radiation of a very short wavelength, often produced by radioactive atoms and in astronomical phenomena.

Energy Input

The amount of energy introduced into a system or process to achieve a desired output or maintain operation.

Energy Output

The amount of energy produced by a system, process, or device.