The Figure Given Below Shows the Revenue and Cost Curves

question 13

Multiple Choice

The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.5
MC: Marginal cost curve
MR: Marginal revenue curve.ATC: Average-total-cost curve
AVC: Average-variable-cost curve
-The permanent shut down point of a perfectly competitive firm, in the long run, is:

• A)the minimum point of the AVC curve.
• B)the minimum point of the MC curve.
• C)the minimum point of the AR curve.
• D)the minimum point of the ATC curve.
• E)the minimum point of the AFC curve.

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Definitions:

Biopsychosocial Model

A framework that attributes disease outcome to the intricate, variable interaction of biological factors, psychological factors, and social factors.

Biological

Pertaining to the science of life or living matter in all its forms and phenomena, especially with reference to origin, growth, reproduction, structure, and behavior.

Psychological

Pertaining to the mind or mental processes and how they affect behavior, emotions, and thought patterns.

Sociocultural

This term relates to the combined influence of social and cultural factors on an individual's behavior, attitudes, and perceptions.