A. variable costs of staying open are less than the total revenue due to staying open.
B. total costs of staying open are less than the total revenue due to staying open
C. variable costs of staying open are greater than the total revenue due to staying open
D. total costs of staying open are greater than the total revenue due to staying open
Related Mcqs:
- An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?
A. relatively small; more difficult
B. relatively small; easier
C. relatively large; more difficult
D. relatively large; easier - ______ includes practices such as overstating the product’s features or performance luring the customer to the store for a bargain that is out of stock, or running rigged contests ?
A. Deceptive promotion
B. Deceptive packaging
C. Deceptive pricing
D. Deceptive cost structure - A(n) _____ is a retail store that carries a narrow product line with a deep assortment within that line ?
A. shopping goods store
B. convenience store
C. specialty store
D. department store - In the short run firms in perfect competition will still produce provided ?
A. The price covers average variable cost
B. The price covers variable cost
C. The price covers average fixed cost
D. The price covers fixed costs - If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?
A. downward sloping
B. perfectly inelastic
C. upward sloping
D. perfectly elastic - In marketing “USP” stands for ?
A. Unique Selling Proposition
B. Underlying Sales Proposition
C. Unit Sales Point
D. Under Sales Procedure - In perfect competition ?
A. Short run abnormal profits are completed away by firms leaving the industry
B. Short run abnormal profits are competed away by firms entering the industry
C. Short run abnormal profits are competed away by the government
D. Short run abnormal profits are competed away by greater advertising - In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?
A. Upward-sloping portion of the average total cost curve
B. upward-sloping portion of the average variable cost curve
C. portion of the marginal cost curve that lies above the average total cost curve.
D. entire marginal cost curve.
E. portion of the marginal-cost curve that lies above the average variable cost curve - If a firm takes over a competitor then, according to porter’s 5 forces model ?
A. Buyer power is higher
B. Supplier power is higher
C. Substitute threat is higher
D. Rivalry is lower - For a competitive firm, its short run supply curve is ______ and its long run supply curve is _____?
A. SMC, LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC below SAVC, LMC bellow LAC
