In the Short Run, the Firm Makes Zero Economic Profit

question 180

Multiple Choice

In the short run, the firm makes zero economic profit when the price is ________ minimum average total cost, makes an economic profit when the price is ________ minimum average total cost, and incurs an economic loss when the price is ________ minimum average total cost.

• A) equal to; higher than; lower than
• B) equal to; lower than; higher than
• C) higher than; equal to; lower than
• D) lower than; equal to; higher than

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Definitions:

Prolactin

A hormone produced by the pituitary gland that plays essential roles in lactation and fertility in mammals.

Perimenopausal

The phase in a woman's life leading up to menopause, characterized by changes in menstrual cycles and symptoms like hot flashes.

Estrogen Deficiency

A condition characterized by lower than normal levels of estrogen, a key hormone in female reproductive and overall health, which may lead to various health issues.

Hormone Replacement

Medical treatment where hormones are given to correct or alleviate deficiencies, commonly used in menopause or low testosterone.