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:
A) in long-run equilibrium.
B) an efficient outcome.
C) not maximizing profits.
D) operating at a loss.

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:
A) in long-run equilibrium. 
B) an efficient outcome. 
C) not maximizing profits. 
D) operating at a loss.

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:
A) in long-run equilibrium. 
B) an efficient outcome. 
C) not maximizing profits. 
D) operating at a loss.

These Are the Cost and Revenue Curves Associated with a Firm