If a Profit-Maximizing Firm Shuts Down in the Short Run

question 49

Multiple Choice

If a profit-maximizing firm shuts down in the short run, it must be true that before the shutdown, at all positive output levels,

• A) average total cost was less than average variable cost
• B) fixed cost was greater than total revenue
• C) variable cost was greater than total revenue
• D) profit was zero
• E) total cost plus total revenue was less than profit

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Definitions:

Uniqueness

Describes the distinct characteristics and qualities that differentiate one individual from another.

Environmental-mold Traits

Environmental-mold traits suggest that an individual's characteristics and behaviors are shaped or molded by their environment rather than inherited genetically.

Constitutional Traits

Inherent qualities or characteristics of an individual, determined by genetic factors and early life experiences, that influence their physical, mental, and emotional constitution.

Dynamic Traits

Refer to characteristics of an individual’s personality that are adaptive and can change in response to different situations or over time.