Refer to the Figure Below

question 3

Multiple Choice

Refer to the figure below. If the market for doughnuts is perfectly competitive, and the price of a doughnut is 10 cents, then this firm:

• A)should shut down.
• B)should produce 50 doughnuts.
• C)should shut down in the long run.
• D)will earn an economic loss.

---

Definitions:

Iroquois

A historically powerful northeast Native American confederacy known for its political and organizational skills, encompassing several tribes.

Huron Nation

A confederation of four Iroquoian-speaking Native American tribes who lived in the Great Lakes region, known for their role in the fur trade in the 17th century.

English Civil Wars

A series of armed conflicts and political machinations between Parliamentarians ("Roundheads") and Royalists ("Cavaliers") in England in the mid-17th century over governance and religious issues.

Oliver Cromwell

A key figure in English history who led the parliamentary forces in the English Civil War and later served as the Lord Protector of the Commonwealth of England, Scotland, and Ireland.