If price is less than average fixed costs, a. the firm should ...

[michelleunicorn]

If price is less than average fixed costs,
 a. the firm should operate, since it is making economic profits.
 b. the firm should operate in the short run, but it is making economic losses.
  c. the firm should shut down in the short run.
 d. We do not know whether a firm should continue operating or not.

Question 2

Someone who has the desire to work but has no exceptional abilities and has not acquired the skills necessary for a well-paying job is likely to escape poverty completely.
 a. True
  b. False
  Indicate whether the statement is true or false

[Sophiapenny]

Answer to Question 1

d

Answer to Question 2

False

[michelleunicorn]

Excellent

[EAN94]

Thanks for the timely response, appreciate it