Figure 10-4 ​

question 144

Multiple Choice

Figure 10-4
​
-If a competitive firm's short-run average cost curve lies above the price of the product, we can conclude that the firm

• A)is earning a huge profit.
• B)is incurring losses.
• C)is earning zero economic profits.
• D)is earning a normal profit.

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Definitions:

Short-term

Relating to or occurring over a brief period of time, typically less than a year, often used in financial, planning, or project contexts.

Employee Personality

Refers to the set of emotional qualities, ways of behaving, and patterns of thought that are characteristic of an individual and influence their work performance and interactions.

Muscle Relaxation

A technique used to reduce stress and anxiety by tensing and then slowly relaxing each muscle group in the body.

Discrimination

Unjust or prejudicial treatment of different categories of people, particularly on the grounds of race, age, gender, or disability.