A Firm Will Shut Down Temporarily When the Price Is

question 12

Multiple Choice

A firm will shut down temporarily when the price is so low that total revenue is insufficient to cover the

• A)total cost of production.
• B)total variable cost of production.
• C)total fixed cost of production.
• D)marginal cost of production.
• E)none of the above.

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Definitions:

Albino Allele

A variant form of a gene that can lead to albinism, a condition characterized by the absence of melanin pigment in the skin, hair, and eyes.

Probability

A measure of the likelihood that a specific event will occur.

Incomplete Dominance

A genetic phenomenon where the phenotype of the heterozygote is intermediate between both homozygote parents.

Heterozygote

An individual possessing two different alleles of a particular gene, one inherited from each parent.