A Firm Will Shut Down in the Long-Run If the

question 109

Multiple Choice

A firm will shut down in the long-run if the

• A) price is above the minimum average total cost (ATC).
• B) price is equal to the minimum average total cost (ATC).
• C) price is anywhere above the minimum average variable cost (AVC).
• D) price is anywhere below the minimum average total cost (ATC).
• E) firm is making zero economic profits.

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Definitions:

A Soil Horizon

A Soil Horizon is a distinct layer parallel to the soil surface, differing from adjacent soil layers in physical, chemical, and biological properties, composition, or color.

Common Name

A name that is commonly used by the general public to identify a species, as opposed to its scientific name.

Hydrologic Cycle

The continuous movement of water on, above, and below the surface of the Earth, involving processes such as evaporation, condensation, precipitation, and infiltration.

Primary Drivers

The main factors or forces that cause a particular outcome or condition.