Which of the Following Statements About a Competitive Firm Is

question 94

Multiple Choice

Which of the following statements about a competitive firm is correct?

• A)To maximize profits, a competitive firm should produce the output level at which total revenue is greatest.
• B)In long-run equilibrium, a competitive firm will produce at the point of minimum average total costs.
• C)A competitive firm will produce in the short run so long as total receipts are sufficient to cover total fixed costs.
• D)A competitive firm will close down in the short run whenever price is less than the minimum attainable average total cost.

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The use of online platforms and websites to build social networks or social relations among people who share similar interests, activities, backgrounds, or real-life connections.

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