Suppose a Price Taker Is Collecting $1,700 in Total Revenue

question 156

Multiple Choice

Suppose a price taker is collecting $1,700 in total revenue and the total cost of its variable factors of production is $1,900 at its current level of output.One can predict that the firm will

• A) shut down.
• B) earn a profit.
• C) earn a loss.
• D) continue to operate.
• E) raise its price.

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Definitions:

Just Cause

Legal grounds for termination, such as employee misconduct or incompetence.

Workplace

A location where individuals are employed to perform tasks and duties for an organization, which can range from an office setting to remote work environments.

Counselling

The discussion of a problem with an employee, with the general objective of helping that employee resolve the issue or cope with the situation in order for them to become more effective.

Positive Discipline

A management strategy that focuses on encouraging good behavior in employees through positive reinforcement rather than punishment.