The Following Table Shows the Output Supplied by a Firm

question 51

Multiple Choice

The following table shows the output supplied by a firm and its total cost of production. It represents a firm in the _____. ​
Table 8.2

• A)long run because there is no fixed cost
• B)short run because there is no equilibrium
• C)long run because there is an equilibrium level of output
• D)short run because a firm incurs fixed cost
• E)long run because there is a normal profit

---

Definitions:

Financial Projections

Estimates of a company's future revenues, expenses, and profitability, often used for budgeting, fundraising, and strategic planning.

Franchising

A business model whereby the owner (franchisor) of a product, service, or method obtains distribution through affiliated dealers (franchisees).

Market Entry Strategy

The planned method of delivering goods or services to a new target market and distributing them there.

Operational Support

Services and activities that assist in the day-to-day functioning of a company or organization.