Use the figure below to answer the following questions. Figure 11.2.2
-Refer to Figure 11.2.2,which shows a perfectly competitive firm's economic profit and loss.The firm is incurring a loss at

Question

Use the figure below to answer the following questions.  Figure 11.2.2
-Refer to Figure 11.2.2,which shows a perfectly competitive firm's economic profit and loss.The firm is incurring a loss at

Quizplus · Accepted Answer

The firm is incurring a loss at point A, where the marginal cost curve intersects the demand curve. At this point, the price of the product is lower than the average cost, leading to a negative economic profit for the firm.

Use the Figure Below to Answer the Following Questions