The graph shown displays the cost curves for a firm in a perfectly competitive market. If the market price is $2: 
A) the firm should produce 100 units in the short run but will earn zero profit.
B) the profit-maximizing quantity is 60 units.
C) the profit-maximizing quantity is zero units.
D) the firm can earn positive profits in the short run but will earn zero profit in the long run.
Correct Answer:
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Q102: In the short run, we assume that
Q103: The number of firms in a perfectly
Q104: If a firm in a perfectly competitive
Q105: In the long run in a perfectly
Q106: <p><b><b><span style="font-size:20pt;"><span style="color:#FF0000;"> Q108: The graph shown displays the cost curves Q109: The key difference between supply in the Q110: The graph shown displays the cost curves Q111: If a firm in a perfectly competitive Q112: In the long run, firms will enter
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