Hank operates a perfectly competitive firm in the long run.For several periods the market price has been $20, and he knows his break-even price is $22.Hank should:
A.stay in the industry, since he can cover his fixed costs.
B.exit the industry, since he is making losses.
C.stay in the industry, since he is a perfect competitor and must take the price as given.
D.wait for the short-run period.

Question

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The Answer of Hank operates a perfectly competitive firm in the long run.For several periods the market price has been $20, and he knows his break-even price is $22.Hank should:
A.stay in the industry, since he can cover his fixed costs.
B.exit the industry, since he is making losses.
C.stay in the industry, since he is a perfect competitor and must take the price as given.
D.wait for the short-run period.

Hank Operates a Perfectly Competitive Firm in the Long Run