Refer to the Data Provided in Table 9 -Refer to Table 9

question 286

Multiple Choice

Refer to the data provided in Table 9.1 below to answer the question(s) that follow.
Table 9.1 $$\begin{array} { l l l l l l l } \text { q } & \text { TFC } & \text { TVC } & \text { TC } & \text { MC } & \text { AVC } & \text { ATC } \\\hline 0 & \$ 50 & \$ 0 & \$ 50 & - - & - - & - - \\1 & 50 & 20 & 70 & 20 & 20 & 70 \\2 & 50 & 30 & 80 & 10 & 15 & 40 \\3 & 50 & 45 & 95 & 15 & 15 & 31.67 \\4 & 50 & 62 & 112 & 17 & 15.50 & 28 \\5 & 50 & 90 & 140 & 28 & 18 & 28 \\6 & 50 & 132 & 182 & 42 & 22 & 30.33 \\7 & 50 & 186 & 236 & 54 & 26.57 & 33.71 \\\hline\end{array}$$
-Refer to Table 9.1. If the market price is $17, then in the short run the firm will

• A) operate and expand.
• B) operate but not expand.
• C) shut down, but not go out of business.
• D) go out of business.

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Definitions:

Monitor

To observe and check the progress or quality of something over a period, often through the use of instruments or sensors.

Pending Code

A diagnostic trouble code that is stored in memory, but not displayed, the first time the ECM detects a potential fault. A second trip is required to confirm the fault and display a hard code.

Fault

An error or malfunction in a system, particularly in electrical or mechanical systems, indicating a deviation from normal operation.

MIL Light

Also known as the "Check Engine" light, an indicator on a vehicle's dashboard that alerts the driver to potential malfunctions within the engine or exhaust systems.