If a firm's revenues just cover all its opportunity costs, then:

Related MCQs

• With fixed costs of Rs. 400, a firm has average total costs of Rs. 3 and average variable costs of Rs. 2.50. Its output is:
• Suppose that a firm produces 200,000 units a year and sells them all for Rs.10 each. The explicit costs of production are Rs.1,500,000 and the implicit costs of production are Rs. 300,000. The firm has an accounting profit of:
• Marginal costs and average variable costs are equal when
• Suppose a firm sells its product at a price lower than the opportunity cost of the inputs used to produce it. Which is true?
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• Implicit costs are:
• Variable costs are:
• Costs incurred only when production occurs are known as:
• If average variable costs fall as output grows:
• In economic theory the costs of a firm