A profit-maximizing monopolist finds that if it remains open, the best output is 50 a week, but at this output it would make a loss. Under what circumstances should it shut down?
Statementbis correct. IfARis less thanAVC, then each unit of output has a revenue below its variable cost. In turn, total revenue is less than total variable cost, so the firm's loss would equal the gap between its total revenue and its total variable cost plus its total fixed cost. If the firm instead shut down and produced nothing, it would have a zero total revenue, and it would buy no variable inputs and so have a zero total variable cost. So its loss would only equal its total fixed cost.
I. You have to be careful as the counts __________ for older people.
II. I like the concept of ____________ doors at the entrance.
III. Yo...
It has been known for years that ______ of natural gases can be _________ for health.
Her eloquent speech at the conference left a profound _________ on the audience, inspiring them to take action.
In each of the following sentences, there is a blank space. Below each such sentence, there are five options with one word each. Fill up the blank with...
The people alongside the victim were not _________ help at all, but were busy clicking pictures.
(A) offering ...
It’s easy to be ………… , but difficult to ………………
Fill in the blanks with the most appropriate word from among the choices given below them.
This land could be sold for a high _____
They offered to help, but we knew they were just _______ to avoid taking any real responsibility.
Given below are a few sentences with two blanks in each. Below each sentence are given four pair of words among which one pair might fill the blank. If...
The countries close to the Russian border, namely the Baltic states and Poland, had _____________ against such a possibility, which they considered the...