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MMLU-Pro / 7057 / For the perfectly competitive firm, the profit-maximizing decision to shut down…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

For the perfectly competitive firm, the profit-maximizing decision to shut down is made when the price

category

economics

options

  1. exceeds maximum average total cost.
  2. is less than maximum average variable cost.
  3. is equal to minimum marginal cost.
  4. falls below minimum average total cost.
  5. is equal to average revenue.
  6. is equal to maximum average total cost.
  7. falls below minimum average variable cost.
  8. is equal to minimum average total cost.
  9. exceeds average total cost but less than average variable cost.
  10. is greater than minimum average variable cost, but lower than minimum average total cost.

src

ori_mmlu-high_school_microeconomics

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Source and history

Official source

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