In the Short Run, a Purely Competitive Firm That Seeks

question 90

Multiple Choice

In the short run, a purely competitive firm that seeks to maximize profit will produce

• A) where the demand and the ATC curves intersect.
• B) where total revenue exceeds total cost by the maximum amount.
• C) that output at which economic profits are zero.
• D) at any point where the total revenue and total cost curves intersect.

---

Definitions:

Olecranon Process

The bony prominence of the ulna at the elbow, which forms the point of the elbow and serves as an attachment for muscles.

Thenar Eminence

The muscular bulge on the palm of the hand at the base of the thumb, composed of short muscles that control thumb movements.

Cubital Fossa

The cubital fossa is the triangular area on the anterior aspect of the human arm immediately distal to the elbow; it is bordered by the brachioradialis, pronator teres muscles, and the imaginary line connecting the epicondyles of the humerus.

Temporomandibular Joint

The hinge joint connecting the lower jaw to the temporal bone of the skull, enabling movements required for chewing and speaking.