In the Short Run, the Best Policy for a Perfectly

question 144

Multiple Choice

In the short run, the best policy for a perfectly competitive firm is to

• A)shut down its operation if price ever falls below average total cost.
• B)produce and sell its product as long as price is greater than average variable cost.
• C)shut down its operation if price falls between average total cost and average variable cost.
• D)shut down its operation any time that marginal revenue is less than marginal cost.

---

Definitions:

Listening

The active process of receiving, constructing meaning from, and responding to spoken or nonverbal messages.

Formal Committee Meeting

A structured gathering of individuals appointed or elected to debate and decide on matters of common interest or community concern within an organizational or governmental context.

Constructive Criticism

Feedback provided in a positive way with the intention of helping someone improve, focusing on specific issues rather than personal traits.

Write Concisely

The skill of expressing ideas or viewpoints clearly and with few words, without losing the intended message.