In the Long Run, a Profit-Maximizing Firm Will Choose to Exit

question 330

Multiple Choice

In the long run, a profit-maximizing firm will choose to exit a market when

• A)average fixed cost is falling.
• B)variable costs exceed sunk costs.
• C)marginal cost exceeds marginal revenue at the current level of production.
• D)total revenue is less than total cost.

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Definitions:

Activities of Daily Living

Basic tasks of everyday life, such as eating, bathing, dressing, toileting, and transferring, used to assess a person's care needs.

Meniere's Disease

A disorder of the inner ear causing episodes of vertigo, tinnitus, hearing loss, and a feeling of fullness or congestion in the ear.

Serous Otitis Media

A type of ear infection where fluid collects behind the eardrum, leading to pain and potentially reduced hearing.

Cerumen

The medical term for earwax, a natural substance produced by glands in the ear canal that helps to clean, protect, and lubricate the ears.