In the Wake of the 2008 Recession, the Electronics Retailer

question 65

Multiple Choice

In the wake of the 2008 recession, the electronics retailer Circuit City closed its stores. If we assume this was a short-run decision, the most likely explanation for it is that the price of a typical product sold at Circuit City stores was:

• A) greater than the average total cost of producing the toy.
• B) equal to the average total cost of producing the toy.
• C) less than the average total cost of producing the toy but greater than the average variable cost.
• D) less than the average variable cost of producing the toy.

---

Definitions:

Synchronously

Occurring at the same time or rate, synchronously refers to processes or events that are coordinated in time or operate in unison.

FIFO File

A method of handling data where the first piece of data entered is the first one to be processed or removed, similar to a queue.

False-to-true Transition

A change in state or condition from false (off or 0) to true (on or 1), often used in digital electronics or programming logic.

Shift Register

A digital memory circuit used to store and shift bits, often used in serial communication and for temporary data storage.