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Title: When a profit-maximizing firm in a competitive market is unable to generate enough revenue to pay all of its fixed costs

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Q:

When a profit-maximizing firm in a competitive market is unable to generate enough revenue to pay all of its fixed costs it should, in the short run,

           a.   shut down and incur a loss equal to its fixed costs.

           b.   shut down until it is able to produce where average revenue exceeds average fixed cost.

           c.    continue to produce as long as marginal cost is less than average revenue.

           d.   continue to produce as long as total revenue is sufficient to pay variable costs.


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Title: When a profit-maximizing firm in a competitive market is unable to generate enough revenue to pay all of its fixed costs

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    • Posted Date: Apr 28, 2012 at 9:20:22 PM

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A:
...sp;        a.   shut down and incur a loss equal to its fixed costs. ...
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