Which statement is true? a) A firm will operate in the short run when total revenue exceeds
Question:
Which statement is true?
a) A firm will operate in the short run when total revenue exceeds fixed costs.
b) A firm will operate in the short run when total revenue exceeds variable costs.
c) A firm will shut down when total cost equals total revenue.
d) None of the above.
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The correct answer is b A firm will operate in the short run when total revenue exceeds variable c...View the full answer
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