In the short run, if a firm's price is greater than its AVC but less than its ATC, the firm should:
a. shut down immediately because it is generating an economic loss.
b. shut down temporarily because it is generating an economic loss.
c. continue operating because it is generating an economic profit.
d. continue operating even though it is generating an economic loss.
Question 2
For an economy, the greater the value of the Gini co-efficient, _____.
a. the greater will be the GDP.
b. the greater will be the income inequality
c. the greater will be the revenue of the government from direct taxes
d. the greater will be the equality in the distribution of income and wealth
e. the lesser will be the expenditure on the part of the government
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