Refer to the diagram above. In this instance, at the range of output represented at point b,
A. total costs exceed total revenues.
B. total revenues exceed total costs.
C. the firm is earning profits.
D. the firm should shut-down.
Answer:A
Refer to the diagram above. In this instance, at the range of output represented at point b,
A. total costs exceed total revenues. B. total revenues exceed total costs. C. the firm is earning profits. D. the firm should shut-down.
Explanation: Category: Analyze