Author Question: When price exceeds average variable cost for a firm, it is possible that: a. it is earning an ... (Read 37 times)

audragclark · **on:** Jun 30, 2018

When price exceeds average variable cost for a firm, it is possible that:
a. it is earning an economic profit.
b. it is breaking even.
c. it is suffering an economic loss.
d. any of the above is true.

Question 2

When a low-income individual receives a transfer payment, that individual has less of an incentive to forgo leisure time for work time.
a. True
b. False
Indicate whether the statement is true or false