Which of the Following Is TRUE

question 130

Multiple Choice

Which of the following is TRUE?

• A) If the price falls below the average total cost, the firm will earn economic profits.
• B) Price and marginal revenue are the same in perfect competition.
• C) Economic profit per unit is found by subtracting AVC from the price.
• D) Economic profit is always positive in the short run.

---

Definitions:

Autonomic Nervous System

This system manages involuntary physiological functions including heart rate, digestion, and respiratory rate, operating below the level of consciousness.

Body Temperature

The measure of the body's ability to generate and get rid of heat, vital for the proper functional regulation of the human body.

Homeostasis

The tendency of a biological system to maintain stability while adjusting to conditions that are optimal for survival.

Neural Networks

Systems of interconnected neurons that mimic the operations of the human brain to process information, learn, and make decisions; commonly used in artificial intelligence applications.