Author Question: In the short run, a firm should shut down its operation if: a. its losses are less than TFC at the ... (Read 65 times)

fbq8i · **on:** Jun 30, 2018

In the short run, a firm should shut down its operation if:
a. its losses are less than TFC at the MR = MC point.
b. its losses equal TFC at the MR = MC point.
c. its losses are greater than TFC at the MR = MC point.
d. TR is less than TC.
e. TR exceeds TVC.

Question 2

If two goods were to become even stronger substitutes than before, an economist would expect the cross elasticity to become:
a. positive.
b. one.
c. zero.
d. smaller.
e. larger.