With Which of the Following Scenarios Should a Perfectly Competitive

question 128

Multiple Choice

With which of the following scenarios should a perfectly competitive firm shut down in the short run?
I. P = $80, VC = $180,000, and Q = 2,000
II. TR = $45,000, AVC = $500, ATC = $600, and Q = $84
III. P = $11.55, ATC = $15, and AFC = $2

• A) II
• B) III
• C) II and III
• D) I and III

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Definitions:

Meteoroid Impact

The collision of a meteoroid (a small rocky or metallic body in outer space) with another celestial body, such as an asteroid, planet, or moon, causing a crater or larger-scale impacts.

Meteoroid Impact

Meteoroid impact refers to the collision of a meteoroid with another celestial body, such as Earth, resulting in the creation of impact craters and sometimes initiating geological changes.

Upheaval Dome

A geological structure caused by the upward movement of underground salt creating a dome-shaped feature on the Earth’s surface.

Igneous Body

A mass of igneous rock formed from magma that has cooled and solidified either beneath the Earth's surface or upon it.