Firms Will Stop Exiting a Market Only When

question 8

Multiple Choice

Firms will stop exiting a market only when

• A)marginal revenue equals price.
• B)marginal revenue equals marginal cost.
• C)all remaining firms are making an economic profit.
• D)all remaining firms are making zero economic profit.
• E)marginal revenue equals average fixed cost.

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Definitions:

Statue of Liberty

A colossal neoclassical sculpture on Liberty Island in New York Harbor, symbolizing freedom and democracy and given to the United States by France.

Social Responsibility

The obligation of companies to act in ways that benefit society at large, beyond their own interests or those of their shareholders.

Marketing Metric

Quantitative measures used to monitor, analyze, and evaluate the effectiveness of marketing strategies and campaigns.

Quantitative Value

The measurable, numerical worth of a product or service, often assessed through metrics such as price, features, and benefits.