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Related to the Economics in Practice: The Long - Run Average Cost Curve: Flat or U - Shaped? Do you agree or disagree with the
Related to the Economics in Practice: The LongRun Average Cost Curve: Flat or UShaped?
Do you agree or disagree with the following statements?
A firm will never sell its product for less than it costs to produce it
A Disagree: The firm should produce in the short run if price is greater than average variable cost.
B Disagree: The firm should produce in the short run if total revenue is greater than fixed costs.
C Disagree: The firm should produce in the short run if price is greater than marginal cost.
D Disagree: The firm should produce in the long run if price is greater than average variable cost.
E Agree.
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