-In Figure 5.7, assuming perfect competition which price is associated with profit being exactly normal?

Question

Quizplus · Accepted Answer

In a perfectly competitive market, normal profit occurs where price equals average total cost (ATC). Without seeing Figure 5.7, the specific choice cannot be directly linked to this explanation, but typically, the correct answer would be the price level where the firm's price equals its ATC, indicating no economic profit or loss.