Which Statement Is TRUE

question 221

Multiple Choice

Which statement is TRUE?

• A)If the price falls below the average total cost,the firm will earn economic profits.
• B)Price and marginal revenue are the same in perfect competition.
• C)Economic profit per unit is found by subtracting AVC from the price.
• D)Economic profit is always positive in the short run.

---

Definitions:

Democratic Societies

Democratic societies are systems of governance where power is vested in the population and decisions are made by majority rule, often characterized by free and fair elections, protection of human rights, and equal treatment under the law.

Political Dissent

The expression of opinions or actions that oppose the policies, decisions, or practices of the governing authorities.

Subversion

The act of undermining or attempting to overthrow an established system or government, often through covert means.

Inapplicable

Inapplicable refers to something that does not apply or cannot be applied in a specific situation or context.