The Figure Given Below Shows Revenue and Cost Curves of a Monopolistically

question 18

Multiple Choice

The figure given below shows revenue and cost curves of a monopolistically competitive firm.Figure: 12.1
In the figure,
MR: Marginal revenue curve
ATC: Average total cost curve
AVC: Average variable cost curve
MC: Marginal cost curve
-According to Figure 12.1, the firm:

• A)will shut down temporarily at any price below A.
• B)will operate at a price below A, as long as it is greater than marginal cost.
• C)will shut down at a price below A only in the long run.
• D)will break-even at the price level C.
• E)will shut down if the price falls below E.

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