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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff9e5f0c9-0efb-4213-a069-9dd101eeb7ff%2F7c997497-cc9c-4c5a-9a19-1a251dc001a9%2F2c9etgk_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education