
-The above figure shows the cost curves for a perfectly competitive firm. If all firms in the market have the same cost curves and the price equals $16 per unit
A) the market is in its long-run equilibrium.
B) over time, firms will leave this market.
C) the firm is making zero economic profit.
D) over time, the price will fall as new firms enter the market.
Correct Answer:
Verified
Q313: Q314: In the long-run, if firms in a Q315: Q316: Q317: Q319: Suppose firms in a perfectly competitive market Q320: Suppose firms in a perfectly competitive market Q321: In the short run, perfectly competitive firms Q322: Q323: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
![]()
![]()
![]()
![]()
![]()