Which of the Following Characterizes a Supplier of a Good

question 2

Multiple Choice

Which of the following characterizes a supplier of a good in a perfectly competitive market?

• A)It can influence the price of its product.
• B)In the short run, it produces a positive amount only if price is greater than average total cost.
• C)It chooses output such that marginal cost equals price.
• D)In the long run, it will shut down if price exceeds average variable cost.
• E)None of the above.

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Definitions:

Precontemplation Stage

The stage of change in which an individual is not yet considering change or unaware of the need to change.

Typical College Student

An idealized or average representation of a college student, often used as a reference point for academic, social, or developmental research.

Perception of Control

An individual's belief in their ability to influence events and outcomes in their own lives, which can significantly impact psychological well-being.

Theory of Reasoned Action

A theory that predicts an individual's behavior based on their intentions, attitudes towards a behavior, and beliefs about others' expectations.