In the short run, a perfectly competitive firm will always shut down if, at all output levels above zero,
A) price is less than average total cost
B) total revenue is less than total cost
C) they cannot pay variable costs with total revenue
D) variable cost is greater than fixed cost
E) price is less than fixed cost
Correct Answer:
Verified
Q137: Exhibit 8-13 Q138: For a perfectly competitive firm that should Q139: Which of the following does not characterize Q140: Exhibit 8-15 Q141: At its present rate of output, 200 Q143: Claude's Copper Clappers sells clappers for $60 Q144: In the short run, a perfectly competitive Q145: To maximize profit, a perfectly competitive firm Q146: At its present rate of output, 200 Q147: Claude's Copper Clappers sells clappers for $65
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