Refer to Figure 22.3 for a perfectly competitive firm.If the market price is $23,
A) The firm should produce 31 units.
B) Economic profits are zero.
C) The firm should produce 25 units.
D) The firm will have above-normal profits.

Question

Refer to Figure 22.3 for a perfectly competitive firm.If the market price is $23,
A) The firm should produce 31 units. 
B) Economic profits are zero. 
C) The firm should produce 25 units. 
D) The firm will have above-normal profits.

Quizplus · Accepted Answer

The Answer of  Refer to Figure 22.3 for a perfectly competitive firm.If the market price is $23,
A) The firm should produce 31 units. 
B) Economic profits are zero. 
C) The firm should produce 25 units. 
D) The firm will have above-normal profits.