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A profit-maximizing firm will shut down if, at the firm's profit maximizing level of output, its total revenue is ______ less than its total cost. less than its average variable cost. less than its variable cost. less than its average total cost.

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 A firm maximizes profit by operating at the level of output where marginal revenue equals marginal cost and at the profit maximizing level of output the total revenue (TR) and total cost (TC) curves must have the same slope.
A profit-maximizing firm will shut down if, at the firm's profit maximizing level of output, its total revenue is less than its average total cost.
A profit-maximizing firm will shut down if, at the firm's profit maximizing level of output, its total revenue is less than its total cost. True. When a firm is maximizing its profit, marginal revenue will equal marginal cost. If they do not equal they are not able to continue running their company because they are occurring debt too quickly and do not have funds to keep up.

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