A Profit-Maximizing Firm Will Shut Down in the Short Run

question 26

Multiple Choice

A profit-maximizing firm will shut down in the short run when

• A)price is less than average variable cost.
• B)price is less than average total cost.
• C)average revenue is greater marginal cost.
• D)average revenue is greater than average fixed cost.

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Definitions:

Wild Species

Plant and animal species that exist naturally in the wild, without human intervention.

Jane Goodall

A renowned primatologist and conservationist best known for her extensive study of chimpanzee behavior in Tanzania's Gombe Stream National Park.

Humanity's Danger

Refers to global risks or existential threats that have the potential to significantly harm or completely eliminate human civilization.