A Profit-Maximizing Firm Will Shut Down in the Short Run

question 391

Multiple Choice

A profit-maximizing firm will shut down in the short run when

• A)price is less than average variable cost.
• B)price is less than average total cost.
• C)average revenue is greater than marginal cost.
• D)average revenue is greater than average fixed cost.

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Definitions:

Major Symptoms

Primary signs or indicators of a disease or condition that are critical for diagnosis and distinguishing one medical issue from another.

Schizophrenia

A chronic and severe mental disorder affecting how a person thinks, feels, and behaves, often characterized by episodes of psychosis.

Control Delusion

A belief that one's thoughts, feelings, or actions are being controlled by external forces.

Persecution Delusion

A type of delusional belief where an individual thinks they are being plotted against, spied on, slandered, threatened, or deliberately victimized.