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The Figure Given Below Shows the Revenue and Cost Curves

question 92

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The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.2
The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.2    MC: Marginal cost curve MR: Marginal revenue curve ATC: Average-total-cost curve AVC: Average-variable-cost curve -A perfectly competitive firm decides to shut down if: A) the price falls below the average-total-cost. B) average revenue falls below the average-variable-cost. C) the price falls below the marginal cost. D) the average revenue curve lies below the marginal cost curve. E) the total revenue is less than total cost. MC: Marginal cost curve
MR: Marginal revenue curve
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
-A perfectly competitive firm decides to shut down if:

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Definitions:

Serviced

The act of performing maintenance or repair work on a vehicle or machinery to ensure it operates correctly.

Trailer Component

A part or element used in the construction or assembly of a trailer, such as axles, brakes, or lighting systems.

Tractor Chassis

The main structural frame of a tractor, to which all other components and systems are attached or supported.

Kingpin

(1) The linkage pin used in a steering knuckle that permits the assembly to pivot, or the tempered steel, coupling pin mounted on a trailer upper coupler that engages with fifth wheel jaws; (2) The lugged pin built into a trailer upper coupler assembly that engages to jaws in a fifth wheel assembly, permitting articulation at the fifth wheel. Forged from middle alloy steels and tempered. In North America, a kingpin is usually welded into the upper coupler; elsewhere, it is more often bolted.

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