In the Long Run, If a Perfectly Competitive Firm Cannot

question 39

Multiple Choice

In the long run, if a perfectly competitive firm cannot cover its costs, the profit-maximizing firm will

• A) continue to produce as long as total revenue exceeds total fixed cost.
• B) continue to produce as long as total revenue exceeds total variable cost.
• C) continue to produce to maximize its opportunity costs.
• D) seek more rewarding opportunities in some other industry.
• E) increase output and lower price.

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Definitions:

Report Layout View

A feature in database software that allows users to visually design and customize the layout of reports.

Report View

A display mode in database and other applications that provides a formatted view of data, often used to generate summaries or detailed reports.

Command Button Wizard

A tool in software development environments used for creating and assigning actions to buttons in a user interface.

Use Control Wizards

Features in software development tools that guide users through the process of creating controls like buttons, forms, and other interactive elements in an application.