Multiple Choice
-In the above table, the firm
A) must be in a perfectly competitive market because its marginal revenue is constant.
B) must be in a perfectly competitive market because its marginal cost curve eventually rises.
C) cannot be in a perfectly competitive market because its short-run economic profits are greater than zero.
D) cannot be in a perfectly competitive market because its long-run economic profits are greater than zero.
Correct Answer:
Verified
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