In the Long Run, All of a Firm's Costs Are

question 141

Multiple Choice

In the long run, all of a firm's costs are variable.In this case the exit criterion for a profit-maximising firm is:

• A)average revenue > marginal cost
• B)price < average total cost
• C)price > average total cost
• D)average revenue > average fixed cost

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Definitions:

Abducens

The sixth cranial nerve, which controls the lateral rectus muscle of the eye, responsible for outward eye movement.

Arachnoid Mater

One of the three protective membranes (meninges) that surround the brain and spinal cord, located between the dura mater and pia mater.

Pia Mater

The innermost layer of the meninges, which closely envelops the brain and spinal cord.

Dura Mater

The outermost and toughest of the three layers of the meninges that surround the brain and spinal cord, providing protection.