If a perfectly competitive firm cannot cover all of its costs, ...

[bucstennis@aim.com]

If a perfectly competitive firm cannot cover all of its costs, then it should shut down in the short run.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following is true about marginal utility?
 a. Marginal utility is total utility divided by the total quantity consumed.
  b. Marginal utility is the change in total utility divided by the change in total quantity demanded.
  c. Marginal utility is the satisfaction that a consumer experiences from all the units of a good or service consumed.
  d. None of the above are true.

[gasdhashg]

Answer to Question 1

False

Answer to Question 2

b