If Henry, a perfectly competitive lime grower in Renmark, can sell his limes at a price greater than his average total cost, Henry will

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If Henry can sell his limes at a price greater than his average total cost, Henry will be making a profit. This profit is not just accounting profit, but economic profit, as it takes into account the opportunity cost of producing limes.

If Henry, a Perfectly Competitive Lime Grower in Renmark, Can