In the Short Run, a Perfectly Competitive Firm

question 477

Multiple Choice

In the short run, a perfectly competitive firm

• A) shuts down if it incurs any economic loss.
• B) incurs an economic loss if it shuts down.
• C) does not consider total revenue in its shut down decision.
• D) can earn a small economic profit while being shut down.

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Definitions:

Sex Offenses

Crimes that involve illegal or coerced sexual conduct against another individual.

Convictions

Legal judgments where a person is found guilty of a crime after a trial.

Capital Punishment

The legally authorized killing of someone as punishment for a crime.

Moral Issue

A situation or topic that involves questions of right and wrong behavior, ethics, and values.