A Perfectly Competitive Firm Produces 3,000 Units of a Good

question 106

Multiple Choice

A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000.The fixed cost of production is $20,000.The price of each good is $10.Should the firm continue to produce in the short run?

• A)No, it should shut down because it is making a loss.
• B)Yes, it should continue to produce because its price exceeds its average fixed cost.
• C)Yes, it should continue to produce because it is minimizing its loss.
• D)There is insufficient information to answer the question.

Explain the role of healthcare providers, including dietitians, in promoting physical activity and the benefits of exercise.

Distinguish between physical activity and physical fitness and understand how each contributes to health.

Acknowledge the mental health benefits of regular physical activity.

Recognize misconceptions about exercise and dispel myths with evidence-based information.

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Definitions:

Financial Accounting

The practice of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.

PDCA Cycle

A management method used for continuous improvement, standing for Plan-Do-Check-Act.

Continuous Improvement

An ongoing effort to enhance products, services, or processes by making incremental improvements over time.

Lean Business Model

A strategic approach focused on maximizing customer value while minimizing waste, improving overall efficiency.