If Price Is Less Than Average Total Cost,a Firm

question 151

Multiple Choice

If price is less than average total cost,a firm

• A)earns an economic profit
• B)hires additional workers
• C)moves its factory offshore
• D)fires the marginal worker
• E)suffers an economic loss

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Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a dismissal of other cultures.

Body Language

Non-verbal communication through gestures, facial expressions, behaviors, and posture.

Two-Word Verb

A two-word verb, also known as a phrasal verb, is a verb phrase consisting of a verb and an adverb or preposition, forming a single semantic unit.

Two-Word Verb

A verb that combines a basic verb with a preposition or adverb to create a distinct meaning, for example, "look up."