Suppose a Perfectly Competitive Firm's Minimum Average Variable Cost Is

question 275

Multiple Choice

Suppose a perfectly competitive firm's minimum average variable cost is $3 when it produces 50.If the price is $2 and the firm's marginal cost is $2,the firm should

• A) continue to produce, but produce more than 50.
• B) continue to produce 50.
• C) continue to produce, but produce less than 50.
• D) shut down.
• E) continue to operate, but to determine the amount of production needs more information than is given.

---

Definitions:

Reserved Identifiers

Names that are reserved by a programming language for special use and should not be used as identifiers by programmers.

Standard

A set of technical definitions and guidelines that specify how a particular type of operation, protocol, or activity should be performed, ensuring consistency and compatibility across implementations.

Programmer-Created

Refers to elements or constructs within a program that are uniquely defined by the programmer, as opposed to being predefined by the programming language.

Primitive

Basic data type provided by a programming language as a basic building block.