Multiple Choice
Figure 10-4
-For a competitive firm, if at least some portion of its short-run average cost curve lies below the price of the product, we can conclude that the firm
A) is earning a profit at the profit maximizing output level.
B) is incurring short-run losses.
C) is earning zero economic profits.
D) is going to shut down.
Correct Answer:
Verified
Related Questions
Q117: Figure 10-1 Q118: A firm in short-run equilibrium always earns Q119: In short-run equilibrium, a perfectly competitive firm Q120: Which of the following observations is not Q121: If a firm shuts down in the
A)may
