As Long as It Does Not Shut Down, a Perfectly

question 265

Multiple Choice

As long as it does not shut down, a perfectly competitive firm earns the maximum profit as long as it operates so that

• A) its price exceeds its average total cost.
• B) market demand is inelastic.
• C) its price exceeds its marginal revenue.
• D) its marginal revenue equals its marginal cost.

---

Definitions:

Pursuit

The act of following or chasing after something with the goal of catching or achieving it.

Egoism

An ethical theory that treats self-interest as the foundation of morality.

Well-Being

A comprehensive term that encompasses the physical, mental, and emotional health and prosperity of an individual or community.

Others

In a context of social relations, refers to any group or individual outside of oneself, often used to define and delineate between in-group and out-group identities or experiences.