Figure 14-1 Suppose That a Firm in a Competitive Market Has the Has

Multiple Choice

Figure 14-1
Suppose that a firm in a competitive market has the following cost curves:
-Refer to Figure 14-1. The firm should shut down if the market price is

A) above $8.
B) above $6.30 but less than $8.
C) above $4.50 but less than $6.30.
D) less than $4.50.