The Figure Given Below Shows the Revenue and Cost Curves

question 92

Multiple Choice

The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.2
MC: Marginal cost curve
MR: Marginal revenue curve
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
-A perfectly competitive firm decides to shut down if:

• A)the price falls below the average-total-cost.
• B)average revenue falls below the average-variable-cost.
• C)the price falls below the marginal cost.
• D)the average revenue curve lies below the marginal cost curve.
• E)the total revenue is less than total cost.

---

Definitions:

Title VII

A section of the Civil Rights Act of 1964 prohibiting employment discrimination based on race, color, religion, sex, or national origin.

Civil Rights Act

A landmark piece of federal legislation in the United States that prohibits discrimination on the basis of race, color, religion, sex, or national origin.

Equal Employment

Equal Employment is the principle of providing all individuals with equal opportunities in hiring, advancement, and professional development, without discrimination.

Opportunity Commission

Often relates to government or organizational bodies that aim to promote equal opportunity in employment and beyond.