Firms Will Always Stay in the Market in the Short

question 138

Multiple Choice

Firms will always stay in the market in the short run if the price they charge is

• A) less than their minimum average total cost (ATC).
• B) less than their minimum average variable cost (AVC).
• C) greater than their minimum average variable cost (AVC).
• D) greater than their minimum average total cost (ATC)but not greater than their minimum average variable cost (AVC).
• E) equal to their minimum average variable cost (AVC).

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Definitions:

Taxonomically

Pertaining to taxonomy, the science of classification, especially in biology for the classification of organisms into a systematic framework such as kingdoms, phyla, and species based on shared characteristics and genetic heritage.

Collarbone (Clavicle)

A bone located horizontally across the front of the shoulder, connecting the arm to the body.

Primates

An order of mammals that includes humans, apes, monkeys, and prosimians, characterized by large brains, forward-facing eyes, and opposable thumbs.

Flexible Movements

Refers to the adaptability and versatility of physical actions or maneuvers, often highlighting the ability to respond to different challenges or environments.