35) A competitive firm shuts down if a) price is equal to average fixed cost b) total revenue is less than total fixed cost c) price is equal to total cost d) total revenue is less than total variable cost

35) A competitive firm shuts down if a) price is equal to average fixed cost b) total revenue is less than total fixed cost c) price is equal to total cost d) total revenue is less than total variable cost

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

ChapterP3: Market Structure

Section: Chapter Questions

Problem 5KC

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Question

35) A competitive firm shuts down if

a) price is equal to average fixed cost

b) total revenue is less than total fixed cost

c) price is equal to total cost

d) total revenue is less than total variable cost

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