A Perfectly Competitive Firm Should Shut Down in the Short-Run

question 126

Multiple Choice

A perfectly competitive firm should shut down in the short-run if price falls below the minimum of

• A) marginal cost.
• B) marginal revenue.
• C) average total cost.
• D) fixed costs.
• E) average variable costs.

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Definitions:

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The total current drawn by all electrical devices in a circuit or system.

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