In a Perfectly Competitive Market,when Price Is Equal to the

question 128

Multiple Choice

In a perfectly competitive market,when price is equal to the

• A)Minimum short-run average total cost,it has reached the shutdown point.
• B)Minimum average variable cost,economic profit is zero.
• C)Marginal cost,accounting profit is maximized.
• D)Minimum average total cost,economic profit is zero.

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Definitions:

ADH

Antidiuretic hormone (ADH), also known as vasopressin, regulates water balance in the body by reducing urine production.

Hypersecretion

A condition where glands produce an excessive amount of a substance, often leading to various disorders.

Metabolic Rate

Metabolic rate is the rate at which the body uses energy to maintain basic bodily functions when at rest, known as the basal metabolic rate (BMR).

Exophthalmos

A condition characterized by the bulging of the eyes out of the orbit, often associated with thyroid disease, particularly Grave's disease.