In the long run,a firm in a perfectly competitive industry will supply output only if its total revenue covers its
A) explicit plus its implicit costs.
B) fixed costs.
C) implicit costs.
D) explicit costs.
Correct Answer:
Verified
Q104: Figure 12-6 Q109: Figure 12-6 Q171: Ben's Peanut Shoppe suffers a short-run loss.Ben Q187: If a firm's total variable cost exceeds Q201: The short-run supply curve for a perfectly Q222: The long-run supply curve for a perfectly Q230: In a perfectly competitive industry, in the Q235: A perfectly competitive firm in a constant-cost Q254: A perfectly competitive firm in a constant-cost Q259: Ethan Nicholas, who developed the iShoot application
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