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stevengu246 stevengu246
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5 years ago

Question 1.

A firm stands to lose by operating instead of shutting down if ________ does not sufficiently cover ________.



▸ price; average variable cost

▸ price; average fixed cost

▸ total revenue; total costs

▸ operating profit; economic profit

Question 2.

The ________ supply curve(s) of a perfectly competitive firm is the portion of its marginal cost curve that lies above its average variable cost curve.



▸ long-run

▸ short-run

▸ short-run and long-run

▸ A perfectly competitive firm faces no supply curve.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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Kailz1218Kailz1218
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5 years ago
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stevengu246 Author
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#2
5 years ago
I appreciate what you did here, answered it correctly Smiling Face with Open Mouth
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