Use the Following to Answer Question

question 293

Multiple Choice

Use the following to answer question:
-(Figure: Revenues,Costs,and Profits for Tomato Producers III) Use Figure: Revenues,Costs,and Profits for Tomato Producers III.The market for tomatoes is perfectly competitive.If the market price of a bushel of tomatoes is $12,in the short run this farm will:

• A)minimize its losses by shutting down.
• B)minimize its losses by continuing to produce.
• C)break even.
• D)earn an economic profit.

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Definitions:

Percent

A mathematical term representing a part per hundred, used to describe proportions or ratios.

Helmets

Protective headgear worn to reduce the risk of injury, especially in sports, construction, and transportation.

Opportunistic

Taking advantage of situations with little regard for principles or consequences, often to gain personal benefits or advantages.

Cinema

A movie theater where films are shown for public entertainment or the art of filmmaking itself.