If the price that a firm charges is higher than its ________________ cost of production for that quantity produced, then the firm will earn profits.
A. marginal
B. variable
C. average
D. fixed
Answer:C
If the price that a firm charges is higher than its ________________ cost of production for that quantity produced, then the firm will earn profits.
A. marginal B. variable C. average D. fixed
Explanation: 49. If the price that a firm charges is lower than its ____________ of production, the firm will suffer losses.