A Perfectly Competitive Firm Will Continue to Operate in the Short

question 8

Multiple Choice

A perfectly competitive firm will continue to operate in the short run when the market price is below its average total cost if the

• A) marginal revenue is greater than marginal cost.
• B) price is at least equal to the minimum average variable cost.
• C) total fixed costs are less than total revenue.
• D) marginal cost is minimized.
• E) price is also less than the minimum average variable cost.

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Specific tasks or responsibilities assigned to a person or position in an organized manner.

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Beliefs or predictions about future events, often based on previous experience or societal standards.

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Duties or commitments that one is bound to, usually due to legal, moral, or personal reasons.

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The feeling of having a goal or determination in life.