If a Perfectly Competitive Firm's Average Total Cost Curve Is

question 220

Multiple Choice

If a perfectly competitive firm's average total cost curve is above its demand schedule at every level of output, then the firm will earn ________ profits.

• A) positive
• B) break-even
• C) negative
• D) zero

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Definitions:

Echinoderms

A phylum of marine animals known for their radial symmetry and include starfish, sea urchins, and sea cucumbers.

Water-Vascular System

A unique hydraulic system used by echinoderms (such as starfish and sea urchins) for locomotion, feeding, and gas exchange.

Echinoderms

A phylum of marine animals known for their radial symmetry and include species such as starfish, sea urchins, and sea cucumbers.

Hermaphrodite

Animal that has both male and female gonads, either simultaneously or at different times in its life cycle.