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Author Question: If a firm's total variable cost exceeds its total revenue, the firm should stop production by ... (Read 211 times)

Capo

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on: Jun 29, 2018
If a firm's total variable cost exceeds its total revenue, the firm should stop production by shutting down temporarily.
 
  Indicate whether the statement is true or false

Question 2

Financial contributions to the campaigns of members of Congress, state legislators, and other elected officials by firms that seek special interest legislation that make the firms better off are
 
  A) illegal.
  B) the result of the voting paradox.
  C) irrational because elected officials will almost always act in the interest of the voters who have to pay the cost of the legislation.
  D) examples of rent seeking.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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Ashley I

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

D


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