D Question 13 When price is below average variable cost, a firm in a competitive market will continue to operate as long as average revenue exceeds marginal cost shut down and incur fixed costs O shut down and incur both variable and fixed costs O continue to operate as long as average revenue exceeds average fixed cost

D Question 13 When price is below average variable cost, a firm in a competitive market will continue to operate as long as average revenue exceeds marginal cost shut down and incur fixed costs O shut down and incur both variable and fixed costs O continue to operate as long as average revenue exceeds average fixed cost

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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