An Unprofitable Motel Will Stay Open in the Short Run

question 289

Multiple Choice

An unprofitable motel will stay open in the short run if

• A)price (average nightly room rate)exceeds average variable cost.
• B)marginal revenue exceeds marginal cost.
• C)price (average nightly room rate)exceeds average fixed cost.
• D)marginal revenue exceeds price.

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Definitions:

Punctuated Equilibria

A model of macroevolutionary change that suggests evolution occurs via long periods of stability or stasis punctuated by periods of rapid change.

Darwinian Gradualism

The theory proposed by Charles Darwin that evolution occurs through the gradual accumulation of small genetic changes over time.

Fossil Record

The total number of fossils discovered and the information they provide about past life forms and the environments they lived in.

Mousterian Tools

A set of stone tool types associated with Neanderthals and early modern humans, characterized by their flake-based technology.