Which of the Following Is True

question 167

Multiple Choice

Which of the following is true?

• A) Profit per unit is price minus AVC.
• B) Total economic profit is per unit profit times quantity.
• C) If price is less than ATC, the firm will shut down in the short run.
• D) If price is less than marginal cost, the perfectly competitive firm should raise the price and increase output.

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Definitions:

Double-Barreled

A type of question or statement that asks about two different things simultaneously, making it challenging to answer or address directly.

Yea-Saying

A response bias wherein participants in a study agree or say 'yes' to questions regardless of their actual opinion.

Nay-Saying

A response bias in survey research where participants consistently disagree or respond negatively to questions.

Negatively Worded

Refers to items or statements framed in a manner that uses negative expressions, often used in surveys or assessments to check consistency of responses.