-The Above Figure Shows a Perfectly Competitive Firm

question 168

Multiple Choice

-The above figure shows a perfectly competitive firm.If the market price is $20 per unit,the firm

• A) will definitely shut down to minimize its losses.
• B) will stay open to produce and will make zero economic profit.
• C) will stay open to produce and will incur an economic loss.
• D) will stay open to produce and will make an economic profit.
• E) might shut down but more information is needed about the fixed cost.

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Definitions:

Service Systems

The configuration of people, technology, organizations, and information designed to deliver services that create value for the service provider and its customers.

Assignment Method

A mathematical technique used in operations research and decision making to allocate resources or tasks to recipients or jobs in an optimal way.

Planning Files

Documents or electronic records that contain detailed plans, strategies, or schedules for projects or operations.