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Figure 12-3 Figure 12-3 Illustrates the Cost Curves of a Perfectly

Question 72

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Figure 12-3 Figure 12-3 Figure 12-3 illustrates the cost curves of a perfectly competitive firm. -Refer to Figure 12-3.If the market price is P<sub>2</sub> the firm A) will break even and produce a quantity of Q<sub>2</sub>. B) will make a profit and produce a quantity of Q<sub>2</sub>. C) will make a profit and produce a quantity of Q<sub>1</sub>. D) will make a profit and produce a quantity of Q<sub>3</sub>. Figure 12-3 illustrates the cost curves of a perfectly competitive firm.
-Refer to Figure 12-3.If the market price is P2 the firm


A) will break even and produce a quantity of Q2.
B) will make a profit and produce a quantity of Q2.
C) will make a profit and produce a quantity of Q1.
D) will make a profit and produce a quantity of Q3.

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