When price exceeds average variable cost for a firm,it is possible that:
A) it is earning an economic profit.
B) it is breaking even.
C) it is suffering an economic loss.
D) any of the above is true.
Correct Answer:
Verified
Q139: Exhibit 12-9 Q140: The shape of the long-run industry supply Q141: Assume a perfectly competitive firm sells its Q142: Which of the following is true? Q143: If a perfectly competitive firm's marginal revenue Q145: If the market price was $9.50,how many Q146: A profit maximizing perfectly competitive firm would Q147: In perfect competition,at the firm's profit maximizing Q148: If the market demand curve in a Q149: A perfectly competitive firm seeking to maximize
A) The
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