These are the cost and revenue curves associated with a firm. Assuming the firm in the graph is producing Q1 and charging P3,it is likely showing the cost and revenue curves of a firm in:
A) the short run, and firms will enter this market.
B) the long run, and firms will enter this market.
C) the short run, and firms will leave this market.
D) the long run, and no firms will enter or exit.

Question

These are the cost and revenue curves associated with a firm.  Assuming the firm in the graph is producing Q1 and charging P3,it is likely showing the cost and revenue curves of a firm in:
A) the short run, and firms will enter this market. 
B) the long run, and firms will enter this market. 
C) the short run, and firms will leave this market. 
D) the long run, and no firms will enter or exit.

Quizplus · Accepted Answer

The Answer of These are the cost and revenue curves associated with a firm.  Assuming the firm in the graph is producing Q1 and charging P3,it is likely showing the cost and revenue curves of a firm in:
A) the short run, and firms will enter this market. 
B) the long run, and firms will enter this market. 
C) the short run, and firms will leave this market. 
D) the long run, and no firms will enter or exit.

These Are the Cost and Revenue Curves Associated with a Firm