Which of the Following Statements Is False

question 142

Multiple Choice

Which of the following statements is false?

• A)If a perfectly competitive firm produces the quantity of output at which MR = MC, it follows that the firm may or may not be earning a profit.
• B)The firm's supply curve is that portion of its AVC curve that lies above its MC curve.
• C)If price is above ATC at the quantity of output at which MR = MC, the firm will be earning a profit.
• D)In long-run competitive equilibrium, price is equal to marginal cost.

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Definitions:

Social Relationships

Connections between individuals or groups that are formed through interactions, which can influence behaviors and attitudes.

Work Compromised

Occurs when the quality or integrity of work is diminished or placed at risk due to various factors, such as resource limitations or conflicts.

Negative Externalities

Costs suffered by a third party due to an economic transaction or activity for which they are not compensated.

Positive Externalities

Benefits that are experienced by third-parties or the society at large as a result of an economic transaction or activity, without those third parties directly paying for the benefits received.