If ATC = $20, AVC = $15, AFC = $5

question 11

Multiple Choice

If ATC = $20, AVC = $15, AFC = $5, MC = $15 and MR = $15, then a perfectly competitive firm should:

• A) decrease output because MR> AFC.
• B) increase output because ATC > MR.
• C) shut down if the price will be below AVC.
• D) maximize its profit because MR = MC.

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Definitions:

Employee Training

This refers to the process where organizations provide their employees with opportunities to learn and improve their skills and knowledge, relevant to their job roles.

Training Activity

Exercises or programs designed to develop specific skills or knowledge among participants.

Trainer

a person who teaches skills to others, especially in a work context, focusing on improving their performance and capabilities.

Knowledge Acquired

The information, skills, and expertise that individuals gain through experience, education, or training.