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Author Question: In the short run a perfectly competitive firm will A) never shut down. B) shut down if P < ... (Read 147 times)

lidoalex

  • Hero Member
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  • Posts: 538
on: Jun 29, 2018
In the short run a perfectly competitive firm will
 
  A) never shut down.
  B) shut down if P < ATC.
  C) shut down if P < AVC.
  D) shut down if P > AFC.

Question 2

A good or service or a resource is nonexcludable if
 
  A) it is possible to prevent someone from enjoying its benefits.
  B) it is not possible to prevent someone from benefiting from it.
  C) its use by one person decreases the quantity available for someone else.
  D) its use by one person does not decrease the quantity available for someone else.


Ahernandez18

  • Sr. Member
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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


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