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For a Perfectly Competitive Firm in the Short Run, If

Question 109

Multiple Choice

For a perfectly competitive firm in the short run, if the following conditions are true, P = MR = MC > AC, then


A) the firm is maximizing profits and is making an economic profit.
B) the firm is not maximizing profits but is making an economic profit.
C) the firm is not maximizing profits and is not making an economic profit.
D) the firm is maximizing profits and is suffering an economic loss.

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