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If a firm suffers an economic loss, its:

a. Price is less than its marginal cost.

b. Price is less than its marginal revenue.

c. Price is less than its average total cost.

d. None of these

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Mahe Alam
Mahe AlamLv10
8 Apr 2021

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Related questions

 A profit maximizing firm will shut down and produce zero output under perfect competition if:

A. Marginal revenue is less than marginal cost

B. Price is higher than average variable cost but less than average total cost

C. Price is less than average variable cost 

D. Price is less than average total cost

Because a monopolist must lower its price in order to sell another unit of output,

A. marginal revenue is less than price.

B. long-term economic profits will be zero.

C. total revenue increases as price increases.

D. average revenue is less than price.

If a profit-maximizing monopolist faces a downward-sloping market demand curve, its

a. Average Revenue (AR) is less than the price of the product.

b. Average Revenue (AR) is less than Marginal Revenue (MR).

c. Marginal Revenue (MR) is less than the price of the product.

d. Marginal Revenue (MR) is greater than the price of the product.

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