Which Would Indicate That a Firm Is Operating Under Conditions

question 134

Multiple Choice

Which would indicate that a firm is operating under conditions of pure competition and is being productively efficient?

• A)It is making economic profits in the long run.
• B)Marginal cost equals average variable cost.
• C)It produces at the minimum average total cost.
• D)Its marginal revenue is less than average revenue.

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Definitions:

Vascular Disease

A class of diseases affecting the vascular system, which includes arteries, veins, and capillaries, leading to restricted blood flow.

Pseudo-Dementia

Cognitive impairment similar to that of dementia but reversible. May be brought on by depression, nutritional deficiency, thyroid disorder, or any one of a number of other diseases; symptoms may also occur as side effects from medications.

Bonafide Dementia

Genuine cognitive decline that significantly impairs everyday functioning, differentiated from temporary cognitive issues by its persistence and worsening over time.

Neurocognitive Disorder

A category of conditions that significantly affect cognitive functions such as learning, memory, and perception.