Which Statement Is False

question 133

Multiple Choice

Which statement is false?

• A)A firm will shut down when variable cost is greater than total revenue.
• B)In the long run all costs become variable costs.
• C)When the firm shuts down,output is zero.
• D)None of the statements are false.

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Definitions:

Chief Executive Officer

The highest-ranking executive in a company, responsible for making major corporate decisions, managing overall operations, and acting as the main point of communication between the board of directors and corporate operations.

Interest Rates

For the use of assets, lenders apply a charge to borrowers, expressed as a proportion of the principal.

Nicola Pisano

A prominent Italian sculptor of the 13th century, known for his classical style and significant contributions to Gothic art.

Economic Power

The ability of a person, company, or nation to influence or control economies through wealth, production, or trade.