Under Which of the Following Conditions Will a Profit-Maximizing Perfectly

question 180

Multiple Choice

Under which of the following conditions will a profit-maximizing perfectly competitive firm shut down in the short run?

• A) when it is making a normal profit
• B) whenever its marginal cost is less than its marginal revenue
• C) when the price is less than its minimum average variable cost
• D) whenever its total cost is greater than its total revenue
• E) when the price is less than its minimum average total cost

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