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Tackle the Test: Multiple-Choice Questions

For Questions 1–3, refer to the graph provided, and assume that the firm produces the profit-maximizing quantity.

image

  1. Question

    The firm’s total revenue is equal to

    		A.
    		B.
    		C.
    		D.
    		E.
    The firm’s total revenue is equal to

  2. Question

    The firm’s total cost is equal to

    		A.
    		B.
    		C.
    		D.
    		E.
    The firm’s total cost is equal to

  3. Question

    The firm is earning a

    		A.
    		B.
    		C.
    		D.
    		E.
    The firm is earning a

  4. Question

    A firm should continue to produce in the short run as long as price is at least equal to

    		A.
    		B.
    		C.
    		D.
    		E.
    A firm should continue to produce in the short run as long as price is at least equal to

  5. Question

    At prices that motivate the firm to produce at all, the short-run supply curve for a perfect competitor corresponds to which curve?

    		A.
    		B.
    		C.
    		D.
    		E.
    At prices that motivate the firm to produce at all, the shor
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