At a Firm's Profit-Maximizing Level of Output, Its Price Is

question 219

Multiple Choice

At a firm's profit-maximizing level of output, its price is $200 and its short-run average total cost is $225. The firm

• A) has a profit of $25 per unit of output.
• B) should shut down if its short-run average fixed cost is less than $25.
• C) has a loss of $100 per unit of output.
• D) should shut down if its short-run average variable cost exceeds $25.

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