Multiple Choice
The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.5
MC: Marginal cost curve
MR: Marginal revenue curve.ATC: Average-total-cost curve
AVC: Average-variable-cost curve
-The permanent shut down point of a perfectly competitive firm, in the long run, is:
A) the minimum point of the AVC curve.
B) the minimum point of the MC curve.
C) the minimum point of the AR curve.
D) the minimum point of the ATC curve.
E) the minimum point of the AFC curve.
Correct Answer:

Verified
Correct Answer:
Verified
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