Multiple Choice
Under perfect competition, regarding short-run profit, a firm may find itself losing money.This is true because:
A) the firm was unable to pick the output that maximized profit
B) the market conditions make the highest possible profit a negative number
C) the demand for its product is weak or its costs are high
D) both b and c
Correct Answer:
Verified
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Q174: Figure 10-9 Q176: Under perfect competition, a firm's: Q194: In long-run equilibrium under perfect competition,
A)demand curve and
A)the firm
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