If a Firm Shuts Down in the Short Run It

question 41

Multiple Choice

If a firm shuts down in the short run it will

• A)break even.
• B)declare bankruptcy.
• C)suffer a loss equal to its variable costs.
• D)suffer a loss equal to its fixed costs.

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Definitions:

Survival of the Fittest

A concept often used to describe the process whereby organisms better adapted to their environment tend to survive and produce more offspring.

Sexual Gratification

The feeling of pleasure or satisfaction resulting from sexual activities or thoughts.

Functionalism

A theoretical perspective in sociology and anthropology that interprets society as a structure with interrelated parts designed to meet the biological and social needs of individuals in that society.

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A severe worldwide economic downturn that took place mostly during the 1930s, beginning in the United States.