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 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:
• As If a few large firms dominate an industry the market is known as:
• In a cartel, member firms may be given a fixed amount to produce. This amount is called
• Which of the following legal restrictions, if enforced effectively, would be likely to solve a prisoners’ dilemma type of problem for the firms involved?
• Implicit costs are:
• Variable costs are:
• If all resources used in the production of a product are increased by 20 percent and output increases by 20 percent, then there must be:
• When a firm doubles its inputs and finds that its output has more than doubled, this is known as: