A profit-maximizing firm decides to shut- down production in the short-run. Its total fixed cost of production is $100, i.e., TFC = $100. If the firm had produced a positive quantity which of the following would have been true? A The firm's revenues would have been lower than $100. B The firm's total variable cost must be lower than $100. C The firm's losses would have been higher than $100. The firm's total variable cost would D have been higher than $100. 1/20 Submit

A profit-maximizing firm decides to shut- down production in the short-run. Its total fixed cost of production is $100, i.e., TFC = $100. If the firm had produced a positive quantity which of the following would have been true? A The firm's revenues would have been lower than $100. B The firm's total variable cost must be lower than $100. C The firm's losses would have been higher than $100. The firm's total variable cost would D have been higher than $100. 1/20 Submit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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