In economics, the term “shutdown point” refers to the point where the
A. marginal cost curve crosses the total revenue curve.
B. average variable cost curve crosses the total revenue curve.
C. average variable cost curve crosses the marginal cost curve.
D. marginal cost curve crosses the average variable cost curve.
Answer:D
In economics, the term “shutdown point” refers to the point where the
A. marginal cost curve crosses the total revenue curve. B. average variable cost curve crosses the total revenue curve. C. average variable cost curve crosses the marginal cost curve. D. marginal cost curve crosses the average variable cost curve.
Explanation: 5. A manufacturer would likely make an ___________ in a market following the long-run process of beginning and expanding production in response to ________________ .