Which of the Following Is True If a Firm Shuts

question 65

Multiple Choice

Which of the following is true if a firm shuts down?
i.The price is less than minimum average variable cost.
ii.The firm is able to avoid an economic loss.
iii.The firm incurs a loss equal to its total variable cost.

• A) i only
• B) i and ii
• C) i and iii
• D) iii only
• E) ii only

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Definitions:

Tone

The general character or attitude of a place, piece of writing, situation, etc., often setting the mood or atmosphere.

Timing

The selection of the most appropriate or opportune moment to perform an action or make a decision, affecting its success or outcome.

Chronemics

The study of how time is perceived, structured, and used in various cultures, and its effect on communication and behavior.

Interpersonal Communication

The process of exchange of information, feelings, and meaning between two or more people through verbal and/or non-verbal methods.