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Figure 14-1 -Refer to Figure 14-1.If the Market Price Is P1,in the Is

Question 209

Multiple Choice

Figure 14-1 Figure 14-1 -Refer to Figure 14-1.If the market price is P1,in the short run,the perfectly competitive firm will earn A) positive economic profits. B) negative economic profits but will try to remain open. C) negative economic profits and will shut down. D) zero economic profits.
-Refer to Figure 14-1.If the market price is P1,in the short run,the perfectly competitive firm will earn

A) positive economic profits.
B) negative economic profits but will try to remain open.
C) negative economic profits and will shut down.
D) zero economic profits.

Correct Answer: