FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If a firm shuts down in the short run, then A. its economic profits are zero. B. its losses are equal to its fixed costs.

If a firm shuts down in the short run, then

A. its economic profits are zero.

B. its losses are equal to its fixed costs.

C. its operating profits are positive.

D. it must be the case that its revenues from operating were less than its total costs.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Microeconomics

Authors: Robert S. Pindyck, Daniel L. Rubinfeld

7th edition

8131725995, 8131725993, 978-8131725993

More Books

Students also viewed these Economics questions

Question

★★★★★
Lipitor is the trade name of the drug atorvastatin, which is used to reduce cholesterol in patients. Adverse reactions have been studied in clinical trials, and the table below summarizes results for...

Answered: 1 week ago

Question

★★★★★
7-7B. (Bond valuation) Arizona Public Utilities issued a bond that pays $80 in interest, with a $1,000 par value. It matures in 20 years. Your required rate of return is 7 percent. a. Calculate the...

Answered: 1 week ago

Question

★★★★★
Summarize group psychotherapy outcome research.

Answered: 1 week ago

Question

★★★★★
Vidya Patel operates a newspaper stand in Grand Central Station, New York. As you might imagine, space is at a tremendous premium, and Vidya uses every inch of her 300 cubic feet (think in three...

Answered: 1 week ago

Question

★★★★★
Direct Method of Support Department Cost Allocation Stevenson Company is divided into two operating divisions: Battery and Small Motors. The company allocates power and general factory costs to each...

Answered: 1 week ago

Question

★★★★★
A monopolist faces the following demand function: P = 800 2Q. The total costs for this firm are TC = 10000 + 2Q 2 . 1. What is the quantity the monopolist should produce to maximize benefits? And the...

Answered: 1 week ago

Question

★★★★★
Be sure to follow the seven step paradigm when submitting this as a collected homework problem: 1. I want to and I can 2. Draw a diagram (if you can't visualize this in a diagram, see the next page)...

Answered: 1 week ago

Question

★★★★★
Directions: Perform an ethical penetration test on a website of your choice using one of the following tools. As an option, you can use Kali Linux through Oracle Virtual Box. Nmap:...

Answered: 1 week ago

Question

★★★★★
The Casual Furniture Company manufactures outdoor furniture and incurred the following costs during the month of January: $ Timber 31,998 Wages-assembly line personnel 19,499 Wages-factory supervisor...

Answered: 1 week ago

Question

★★★★★
A drug trial is attempted using a real drug and a pill made of just sugar. 18 people are given the real drug in hopes of increasing the calcium levels. The increase in calcium level is found to be on...

Answered: 1 week ago

Question

★★★★★
1. Using the TQM philosophy show how Disney or any other company can benefit from implementing lean method so that customers can experience their value for money. 2. Provide recommendations on how...

Answered: 1 week ago

Question

★★★★★
CPPREP4142 - WRITTEN ACTIVITY: 8. What factors might be considered when determining priorities for property management business development for the agency?

Answered: 1 week ago

Question

★★★★★
7. Develop a circular model, with positive and negative feedback loops, showing the following critical variables:

Answered: 1 week ago

Question

★★★★★
Technology

Answered: 1 week ago

Question

★★★★★
Population

Answered: 1 week ago

Previous Question Next Question