A Perfectly Competitive Firm Is Producing Zero Units of Output

question 149

Multiple Choice

A perfectly competitive firm is producing zero units of output in the short run. We know that price is

• A) below the minimum point of its average fixed cost curve.
• B) below the minimum point of its average variable cost curve.
• C) below the minimum point of its average total cost curve.
• D) between the minimum points of its average total cost curve.

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Definitions:

dN/dS Ratio

A measure used in genetic studies to quantify the relative rate of non-synonymous (dN) to synonymous (dS) mutations, indicating selective pressure.

Neutrally

In a manner that is unbiased, not favoring one side, or in genetics, referring to mutations that do not affect an organism's fitness.

Positive Selection

The evolutionary process by which alleles that confer a fitness advantage increase in frequency within a population, leading to adaptation.

Purifying Selection

A type of natural selection that removes deleterious alleles from a population, leading to a decrease in genetic variation for the traits affected.