For a perfectly competitive firm in the short run,if the firm produces the quantity at which _____,the firm _____.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, if the price (P) is greater than the average total cost (ATC) for a firm, it means the firm is able to cover all its costs and also make a profit. This is because the price at which the firm sells its product is higher than the cost per unit of producing that product.

For a Perfectly Competitive Firm in the Short Run,if the Firm