If Total Revenue Is Greater Than Variable Costs but Less

question 122

True/False

If total revenue is greater than variable costs but less than total costs, a firm should remain in operation because its revenue is sufficient to cover variable costs and some fixed costs.

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Definitions:

Syllogism

A form of reasoning in which a conclusion is drawn from two given or assumed propositions (premises), typically using a major and a minor premise to arrive at a logical conclusion.

Premise

A declaration or assertion that forms the basis for another to be deduced or concluded.

Mood

A temporary state of mind or feeling.

Figure

A descriptive term that can refer to a numerical value, a diagram, or an illustration used to convey information or represent data visually.