8. In the short run, a perfectly competitive firm earning negative economic profit isa.on the downward-sloping portion of its ATC curve.b. at the minimum of its ATC curve.C.on the upward-sloping portion of its ATC curve.d. above its ATC curve.

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Answered: 8. In the short run, a perfectly…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 6QR

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Question

8. In the short run, a perfectly competitive firm earning negative economic profit is
a.
on the downward-sloping portion of its ATC curve.
b. at the minimum of its ATC curve.
C.
on the upward-sloping portion of its ATC curve.
d. above its ATC curve.

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8. In the short run, a perfectly competitive firm earning negative economic profit is a. on the downward-sloping portion of its ATC curve. b. at the minimum of its ATC curve. C. on the upward-sloping portion of its ATC curve. d. above its ATC curve.