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.

Recognize the ethical considerations in concealing information in experiments to eliminate bias.

Identify strategies to address common issues in research design (e.g., placebo effect, demand characteristics).

Understand the various research methods used in psychology, such as surveys, naturalistic observations, case studies, and experiments.

Recognize the advantages and limitations of using surveys in psychological research.