Which of the Following Is TRUE

question 176

Multiple Choice

Which of the following is TRUE?

• A) Profit per unit is price minus MC.
• B) Total economic profit is per-unit profit times quantity.
• C) If price is less than ATC, the firm will break even in the short run.
• D) If price is less than marginal cost, the perfectly competitive firm should raise the price and increase output.

---

Definitions:

Night Vision

The ability to see in low-light conditions, often enhanced by the use of specialized equipment or the adaptation of the eyes to darkness.

Tarsal Glands

Sebaceous glands located along the edges of the eyelids, responsible for secreting a lipid-rich substance that prevents the eyelids from sticking together.

Oily Lubricant

Substances that are oily in nature used to reduce friction between surfaces in contact, commonly used in machinery and equipment maintenance.

Lacrimal Glands

Glands located near the eyes responsible for producing tears.