Refer to the diagram for a purely competitive producer. If product price is P ₃,
A)the firm will maximize profit at point d.
B)the firm will earn an economic profit.
C)economic profits will be zero.
D)new firms will enter this industry.

Question

Refer to the diagram for a purely competitive producer. If product price is P ₃,
A)the firm will maximize profit at point d. 
B)the firm will earn an economic profit. 
C)economic profits will be zero. 
D)new firms will enter this industry.

Quizplus · Accepted Answer

The Answer of  Refer to the diagram for a purely competitive producer. If product price is P ₃,
A)the firm will maximize profit at point d. 
B)the firm will earn an economic profit. 
C)economic profits will be zero. 
D)new firms will enter this industry.

Refer to the Diagram for a Purely Competitive Producer