The following table shows the output supplied by a firm and its total cost of production. It represents a firm in the _____.
Table 8.2
A) long run because there is no fixed cost
B) short run because there is no equilibrium
C) long run because there is an equilibrium level of output
D) short run because a firm incurs fixed cost
E) long run because there is a normal profit
Correct Answer:
Verified
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