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In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?

A. When he cannot produce at an economic profit

B. When price falls short of average variable cost at every level of output

C. When price falls short of average fixed cost at every level of output

D. When price falls short of average total cost at every level of output

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  2. If the commodity is inferior then Income Effect (I.E) is:
  3. By scarcity the economist means that all goods are scarce relative the peoples:
  4. 7.The costs which the firms have to face in order to change the price tags of their products and services…
  5. Pure monopoly exists:
  6. The cost of one thing in terms of the alternative given up is known as:
  7. Each firm in cournot model starts selling:
  8. The fundamental choices that a society must make about the use of its resources include:
  9. Income distribution effects:
  10. In Prisoner Dilemma, the best choice of strategy is:
  11. If at the unchanged price, the demand for a commodity goes up, or the quantity demanded remains the…
  12. A dominant strategy can best be described as:
  13. The maximization of output subject to cost requires equilibrium at the:
  14. Perfect competition assumes:
  15. The elasticity of substitution measures the percentage change in the ratio of inputs when any producer…
  16. The main contribution of David Ricardo is in the field of:
  17. Micro economics is concerned with:
  18. In monopolistic competition, the real differentiation in products is due to difference in:
  19. A normal profit is:
  20. With the expansion of output, the short run average cost curve, beyond a point, starts rising because:
  21. The Tit for Tat strategy means cooperation by the 2nd firm if:
  22. The fixed cost of a firm:
  23. In monopolistic competition (also in kinked demand curve model), a firm sells the amount where:
  24. To attain maximum profits during short-run a firm should produce the output that will:
  25. If in the long run, output increases in the same proportion as increase in all the input in the given…
  26. The cost of firms in cournot model are:
  27. Average Revenue means:
  28. When was Adam Smiths major work An Enquiry into the Nature and Causes of Wealth of Nations published?
  29. Cross-elasticity of demand or cross-price elasticity between two complements will be:
  30. Marginal utility is only meant for: