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.
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.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 33CTQ: Since a perfectly competitive firm can sell as much as it wishes at the market price, why can the...
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