In the short run, a perfectly competitive firm A) can vary all its inputs. B) can make only zero economic profit. C) can possibly make an economic profit or possibly incur an economic loss. D) produces the level of output that sets the average total cost equal to the market price. E) can change only its fixed inputs.

In the short run, a perfectly competitive firm A) can vary all its inputs. B) can make only zero economic profit. C) can possibly make an economic profit or possibly incur an economic loss. D) produces the level of output that sets the average total cost equal to the market price. E) can change only its fixed inputs.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter12: Firms In Perfectly Competitive Markets

Section: Chapter Questions

Problem 9P

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