In the long run,when will a profit-maximizing firm choose to exit a market
A) when average fixed cost is falling
B) when variable costs exceed sunk costs
C) when marginal cost exceeds marginal revenue at the current level of production
D) when total revenue is less than total cost
Correct Answer:
Verified
Q77: Figure 14-3 Q78: When total revenue is less than variable Q79: Which production decision is a profit-maximizing firm Q80: A profit-maximizing firm in a competitive market Q81: What does a firm that exits its Q83: Which business decision best describes the irrelevance Q84: When economists refer to a production cost Q85: When profit-maximizing firms in a competitive market Q86: When do profit-maximizing firms enter a competitive Q87: The competitive firm's short-run supply curve is
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