If a Firm Shuts Down in the Short Run

question 106

Multiple Choice

If a firm shuts down in the short run,

• A)it exits the industry
• B)losses would equal its variable costs
• C)losses would equal its fixed costs
• D)profits would be zero
• E)losses would equal to zero

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Definitions:

Common Ancestor

The most recent individual from which all organisms in a group are directly descended.

Green Algae

Members of a diverse group of photosynthetic protists; contain chlorophylls a and b and have other biochemical characteristics like those of plants.

Chlamydomonas

A genus of green algae that are unicellular flagellates, often used in biological research as a model organism.

Plasmodium

A genus of parasitic protozoa, several species of which are responsible for causing malaria in humans.