Suppose That,in Running Your Business,you Find That the Price of Your

question 44

Multiple Choice

Suppose that,in running your business,you find that the price of your product is less than AVC.Given this information you should:

• A)minimize your losses by producing where P = MC
• B)maximize your profits by producing where P = MC
• C)close down because, by producing, your losses will exceed your fixed costs
• D)close down because total revenue exceeds variable costs
• E)close down because total revenue exceeds total cost

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Definitions:

Solitary Nesters

Animals that prefer to build and inhabit nests alone rather than in communal or shared spaces.

Natal Nests

The nests or birthplaces from where individuals originate and often return to for reproduction.

Proximate Or Ultimate

Causes explaining behaviors: "proximate" refers to the how (mechanisms behind it), "ultimate" refers to the why (evolutionary purpose).

Natal Nests

The original nests or birthplaces where animals are born and initially raised, often important for species with homing instincts or territorial behaviors.