The Figure Given Below Shows the Revenue and Cost Curves

question 62

Multiple Choice

The figure given below shows the revenue and cost curves of a firm. MC represents the marginal cost curve, AC the average cost curve, MR the marginal revenue curve, and AR the average revenue curve.Figure 9.4

-If barriers to entry exist in the market for a product, then:

• A)the costs of entry and exit are relatively low.
• B)there will be few close substitutes of the product in the market.
• C)firms will be incurring losses in both the short run and the long run.
• D)firms will tend to have relatively less monopoly power.
• E)the existing firms will quit the market in the long run due to mounting losses.

---

Definitions:

SSD

Solid State Drive, a type of non-volatile storage media that stores persistent data on solid-state flash memory, offering faster access time than a traditional hard disk drive (HDD).

Flash Memory

A type of non-volatile memory that holds data when the power is off.

Mounted

Refers to the status of a storage device when it is accessible to the operating system after being connected or inserted.

Operating System

The software that supports a computer's basic functions, such as scheduling tasks, executing applications, and controlling peripherals.