When Revenue Is Less Than Total Cost but More Than

question 13

Multiple Choice

When revenue is less than total cost but more than variable cost it implies:

• A)the firm is enjoying positive economic profits.
• B)the firm is earning normal profits.
• C)the firm can cover its variable cost and a part of its fixed costs.
• D)the firm is unable to cover its costs and should shut down.
• E)the firm is able to cover all its fixed and variable costs.

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Definitions:

Program's Statements

The individual instructions in a program, written in a programming language, that specify the actions to be performed.

Boolean Operator

A logical operator that performs operations, such as AND, OR, and NOT, on boolean values and produces a boolean result.

Operands

Entities in mathematics and computer science on which operators perform operations, such as numbers in algebra or values in programming.