When Price Exceeds Average Variable Cost for a Firm,it Is

question 30

Multiple Choice

When price exceeds average variable cost for a firm,it is possible that:

• A) it is earning an economic profit.
• B) it is breaking even.
• C) it is suffering an economic loss.
• D) any of the above is true.

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Definitions:

Intelligence

The capacity for learning, understanding, problem-solving, and the ability to acquire and apply knowledge.

Brainstorming

Brainstorming is a creative problem-solving technique involving the spontaneous contribution of ideas from all members of a group to generate a wide range of solutions.

Internal Motivation

The drive to achieve or perform that comes from within an individual, rather than from external pressures or rewards.

Stark Environments

Settings that are harsh or bare, minimally providing for comfort or aesthetic appeal.