Question: Which statement is true? (LO8) a) A fi rm will operate in the short run when total revenue exceeds fi xed costs. b) A fi

Which statement is true? (LO8)

a) A fi rm will operate in the short run when total revenue exceeds fi xed costs.

b) A fi rm will operate in the short run when total revenue exceeds variable costs.

c) A fi rm will shut down when total cost exceeds total revenue.

d) None of these statements is true.

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