Which Statement Is True

question 50

Multiple Choice

Which statement is true?

• A)Price is calculated by dividing output by total revenue.
• B)The lowest point on the short-run supply curve is at the break-even point.
• C)When price exceeds marginal cost,a profit-maximizing firm will decrease production.
• D)The marginal cost curve intersects the average total cost curve at the break-even point.

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Definitions:

Landless Farmworkers

Agricultural laborers who do not own the land on which they work, often living in conditions of poverty and dependency.

Land Owners

Individuals or entities that hold legal title to a piece of land, granting them rights to its use, benefits, and disposal.

Industry Employment

Employment within the industrial sector, which includes manufacturing, construction, and mining activities, often characterized by the production of goods.

American West

A region of the United States west of the Mississippi River, historically known for its frontier culture, exploration, and expansion during the 19th century.