Multiple Choice
A firm is earning an economic profit. In the short run the firm should ________. In the long run the firm should probably ________.
A) shut down; expand
B) produce where MC = MR; leave the industry
C) produce where MC = MR; expand
D) shut down; exit the industry
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q211: A firm will choose to shut down
Q212: Refer to the data provided in
Q213: A firm's long-run average cost curve is
Q214: Refer to Scenario 9.8 below to answer
Q215: If the price of an input decreases,
Q217: Refer to Scenario 9.5 below to answer
Q218: A perfectly competitive firm will be operating
Q219: A firm is experiencing _ on the
Q220: When long-run average costs decrease as a
Q221: If a perfectly competitive firm operates in