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Author Question: If a competitive firm is losing money then it should: a. always shut down. b. shut down if its ... (Read 28 times)

corkyiscool3328

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on: Jun 30, 2018
If a competitive firm is losing money then it should:
 a. always shut down.
  b. shut down if its losses are greater than total fixed costs.
  c. shut down if its total fixed costs are greater than losses.
  d. raise its price.

Question 2

If the managers of the bus system found that revenues increase when fares are raised, they would conclude that price elasticity demand for subway service is inelastic.
 a. True
  b. False
  Indicate whether the statement is true or false


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connor417

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

True


corkyiscool3328

  • Member
  • Posts: 539
Reply 2 on: Jun 30, 2018
Excellent

elyse44

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  • Posts: 319
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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