When price exceeds average variable cost for a firm, it is ...

[audragclark]

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

[peter]

Answer to Question 1

d

Answer to Question 2

True

[audragclark]

Excellent

[Jossy]

Thanks for the timely response, appreciate it