The Figure Given Below Shows the Revenue and Cost Curves

question 77

Multiple Choice

The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.5
MC: Marginal cost curve
MR: Marginal revenue curve.ATC: Average-total-cost curve
AVC: Average-variable-cost curve
-If a profit-maximizing, perfectly competitive firm is producing at a loss in the short run, then it implies that:

• A)marginal revenue must be less than marginal cost.
• B)price must be less than the average variable cost.
• C)price must be less than average total cost but greater than average variable cost.
• D)the average revenue curve must lie below the average variable cost curve but above the average fixed cost curve.
• E)price must be less than both average variable cost and average fixed cost.

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Definitions:

Nephrolithiasis

A medical condition characterized by the formation of kidney stones.

Medulla

The innermost part of an organ or structure, such as the renal medulla in the kidney or the medulla oblongata in the brain.

Renal Pyramids

Cone-shaped tissues of the kidneys that contain the kidney tubules and are involved in the transport of urine.

Glomerular Capsules

A structure in the kidney that encases the glomerulus and is involved in the filtration process of blood to form urine.