Figure 10-2

-In the short run, perfectly competitive firms can

Name: Figure 10-2 -In the short run, perfectly competitive firms can
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Question

Figure 10-2
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-In the short run, perfectly competitive firms can

Quizplus · Accepted Answer

In the short run, perfectly competitive firms can make an economic profit if the market price is above the firm's average total cost, take a loss if the market price is below the firm's average total cost, or break even if the market price is equal to the firm's average total cost. Thus, all of the responses are correct.

Figure 10-2 ​

Figure 10-2