In the Long Run, a Firm Will Exit a Competitive

question 10

Multiple Choice

In the long run, a firm will exit a competitive industry if

• A)total revenue exceeds total cost.
• B)the price exceeds average total cost.
• C)average total cost exceeds the price.
• D)Both a and b are correct.

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Definitions:

Car Safety Seats

Devices designed to secure children in vehicles, providing protection against injury in the event of an accident.

Convertible Car Seat

A type of car seat designed to grow with the child, converting from a rear-facing baby seat to a forward-facing seat and sometimes even to a booster seat.

Rearward-Facing

A term often used to describe the recommended orientation of car seats for infants and toddlers, aiming to enhance safety in vehicular accidents.

Forward-Facing

A term often used to describe the orientation of a child’s car seat position where the child faces the front of the car.