positive economic profits. negative economic profits but will try to remain open
ID: 1178353 • Letter: P
Question
positive economic profits.
negative economic profits but will try to remain open.
negative economic profits and will shut down.
zero economic profits.
Suppose a firm operating in a competitive market has the following cost curves:
Refer to Figure 14-2. If the market price is P2, in the short run the firm will earn (Points : 5) Suppose a firm operating in a competitive market has the following cost curves: Refer to Figure 14-8. Which line segment best reflects the long-run supply curve for this firm?
Explanation / Answer
zero economic profits.
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