If price exceeds average total cost
A) the firm earns an economic profit
B) there are a large number of buyers and sellers
C) the firm suffers an economic loss
D) the firm closes down
E) the firm should reduce its production
Correct Answer:
Verified
Q97: Q98: The perfectly competitive firm shown in Figure Q99: The perfectly competitive firm shown in Figure Q100: Q101: Teddy's Bear Shop operates in a perfectly Q103: All of the following conditions,except one,will necessarily Q104: For market prices that are below the Q105: The difference between price and average total Q106: If there is an increase in market Q107: The firm earns an economic profit whenever
A)price
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