In the Long Run, a Firm Will Exit a Competitive

question 10

Multiple Choice

In the long run, a firm will exit a competitive industry if

• A)total revenue exceeds total cost.
• B)the price exceeds average total cost.
• C)average total cost exceeds the price.
• D)Both a and b are correct.

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Definitions:

Nurses (VON)

Stands for Visiting Nurses or Victorian Order of Nurses, referring to nurses who provide healthcare services at patients' homes.

Flu Epidemic

A widespread outbreak of the influenza virus within a community, region, or population.

Nursing Registration

The process by which nurses are recognized and authorized to practice nursing in a particular region or country, often following the completion of certain education and examination requirements.

Legislation

Laws and regulations enacted by governmental bodies to govern behavior, processes, and standards within a society.