If Market Price Is Greater Than or Equal to the Minimum

question 31

Multiple Choice

If market price is greater than or equal to the minimum of AVC but below the minimum of AC, then

• A)the firm will shut down.
• B)the firm will operate because its loss is less than if it shuts down.
• C)revenue is lower than variable costs.
• D)profit is positive and so the firm will operate.

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Definitions:

Life Span

The maximum duration that an individual of a species can live, as well as the duration of an individual's life from birth to death.

Attachment Bonding

The emotional connection that develops between an infant and their primary caregiver, forming the basis for further emotional and social development.

Basic Needs

Fundamental requirements necessary for individuals to live and develop, such as food, shelter, and safety.

Developmental Period

A specific phase in the growth and development process of an individual, characterized by distinct physical, psychological, or emotional changes that are generally associated with a particular age range.