If a Firm Shuts Down in the Short Run,its Total

question 177

Multiple Choice

If a firm shuts down in the short run,its total revenue is _____

• A)zero.
• B)equal to its fixed cost.
• C)greater than its variable cost.
• D)greater than its fixed cost.
• E)less than its variable cost.

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Definitions:

Reed Bank

A submerged reef in the South China Sea, known for its disputed territorial claims and rich natural resources.

Repossession

The process by which a creditor takes back property or goods from the borrower due to failure to make scheduled payments.

Defaulted

Refers to failing to fulfill a legal obligation, especially failure to pay a debt or appear in court as required.