In the Short Run, a Firm That Is a Price

question 20

Multiple Choice

In the short run, a firm that is a price taker will stay in business as long as

• A) price equals average revenue.
• B) marginal revenue is greater than or equal to marginal cost.
• C) price exceeds average variable cost.
• D) price is less than average variable cost.

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Definitions:

Wireless Local Networks

A type of computer network that uses wireless data connections between network nodes to allow devices to connect to the internet or exchange data wirelessly over a short distance.

Hot Spots

Areas or places known for a high level of activity, interest, or risk, often used in the context of networking, tourism, or epidemiology.

Midrange Computer

A class of computers that falls between personal computers and large mainframe systems, designed for small to medium-sized businesses for tasks such as serving web pages or managing databases.

Supercomputer

A highly advanced computing machine with superior processing power for complex tasks and large data computations.