Consider the Following Short- Run Cost Curves for a Profit-

question 33

Multiple Choice

Consider the following short- run cost curves for a profit- maximizing firm in a perfectly competitive industry.
FIGURE 9- 2
-Refer to Figure 9- 2.If the market price is $2,the firm will

• A)shut down and make zero profit.
• B)produce 200 units and make a loss equal to its total fixed cost.
• C)produce 300 units and make a loss equal to total variable cost.
• D)continue operating in the short run and suffer a loss that is less than its fixed cost.
• E)shut down and suffer a loss equal to its fixed cost.

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Definitions:

Ultra-Low Prices

Pricing strategy that involves setting the price of products or services at a very low level to attract customers.

Online Retailing

The selling of goods and services through the internet, allowing customers to shop from anywhere at any time.

Nonstore Retailing

The selling of goods and services outside the confines of a traditional retail establishment, such as online shopping, catalog sales, and vending machines.

Online Shopping

The act of purchasing products or services over the Internet, typically through websites or applications.