In the Short Run,if a Firm Chooses to Operate and Produce

question 62

Multiple Choice

In the short run,if a firm chooses to operate and produce output,it must be the case that:

• A)it earns a profit.
• B)it avoids a loss.
• C)total revenues are greater than or equal to the cost of fixed factors of production.
• D)total revenues are greater than or equal to the cost of variable factors of production.

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Definitions:

Speed

The rate at which an object covers distance, typically measured in units of distance over time.

Car

A wheeled vehicle used for transporting passengers, which also carries its own engine or motor.

Estimate

An approximate calculation or judgement of the value, number, quantity, or extent of something.

Income

The financial gain received by an individual or a business, typically calculated on a yearly basis, from work, investments, or other sources.