In the Short Run, a Perfectly Competitive Firm Will Always

question 141

Multiple Choice

In the short run, a perfectly competitive firm will always shut down if total revenue is ____ at all positive output levels.

• A) less than total cost
• B) less than total cost but greater than variable cost
• C) less than total cost but greater than fixed cost
• D) greater than fixed cost
• E) less than variable cost

---

Definitions:

Term of Appointment

The specified duration for which an individual is appointed to a position, role, or office.

Lifetime

The duration or extent of a person's life or the existence period of an object, product, or agreement.

Senate

A legislative assembly in some countries, often part of a bicameral system, tasked with making and passing laws.

Presidential Election

A formal decision-making process by which a country's citizens choose an individual to hold the office of President.