A Competitive fiRm Will Make Losses When _____

question 96

Multiple Choice

A competitive firm will make losses when _____.

• A) its short-run average total cost is above the market price
• B) its fixed cost is positive but variable costs are negligible
• C) the market price is above marginal cost
• D) total revenue is greater than total costs

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Definitions:

Law Enforcement Agencies

Government institutions that are responsible for the prevention, detection, and investigation of crime, as well as the apprehension of offenders.

PATRIOT Act

Short for the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act, it is U.S. legislation passed in 2001 aimed at enhancing national security measures.

Equal Employment Opportunity Commission

A federal agency responsible for enforcing laws that make it illegal to discriminate against a job applicant or an employee because of the person's race, color, religion, sex (including pregnancy, transgender status, and sexual orientation), national origin, age (40 or older), disability or genetic information.

Americans with Disabilities Act

A civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life, including jobs, schools, transportation, and all public and private places that are open to the general public.