A Firm Has Positive Fixed Cost and Positive Variable Cost

question 5

Multiple Choice

A firm has positive fixed cost and positive variable cost.At its current level of output, marginal cost equals average cost.The firm must

• A)not be producing at its profit-maximizing level of output.
• B)be producing the quantity that minimizes average cost.
• C)be operating at a point at which total variable cost equals total fixed cost.
• D)be earning negative profit.

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An individual who is part of an extended or immediate family, including parents, siblings, children, and other close relatives.

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A legal document detailing the arrangements for a child to have contact with the person(s) they do not live with, often used in the context of divorce or separation.

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The lawful right given to an individual or body to make decisions, enforce laws, and administer justice within a given jurisdiction.