A Competitive Firm Should Shut Down When Price Is

question 186

Multiple Choice

A competitive firm should shut down when price is

• A)below the minimum of AFC.
• B)equal to MC.
• C)below the minimum of AVC.
• D)above the AVC but below ATC.
• E)above ATC.

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Definitions:

NumberFormatException

An exception thrown in Java when an attempt is made to convert a string into a numeric format, but the string does not have the appropriate format.

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Refers to strings that are passed as parameters to a method or function in programming.