If a Firm Does Not Produce Any Output,its

question 110

Multiple Choice

If a firm does not produce any output,its

• A) total fixed cost must be zero.
• B) economic profit must be positive.
• C) total variable cost must be zero.
• D) total costs must be zero.
• E) marginal cost must be zero.

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Definitions:

Product Market

The marketplace in which final goods or services are offered for purchase by consumers, businesses, and the public sector.

Cell Phones

Portable electronic devices used for communication over long distances without a physical connection.

Circular-Flow Diagram

A visual framework that demonstrates the pathways through which money travels among marketplaces, connecting businesses to households.

Firm

An organization that produces goods and services for sale.