Augi's Art Shack sells art supplies in a perfectly competitive market. The firm is currently realizing economic profits of $25,000 in the short run. In the long run we would expect Augi's to
A) realize economic profits greater than $0 but less than $25,000.
B) realize economic profits of $0.
C) realize economic losses greater than $0 but smaller than $25,000
D) shut down.
Correct Answer:
Verified
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