When price is _______ average cost of production, profits are ______ due to ________ averate profit. Group of answer choices below; negative; positive below; positive; positive above; positive; positive above; negative; negative

When price is _ average cost of production, profits are due to ____ averate profit. Group of answer choices below; negative; positive below; positive; positive above; positive; positive above; negative; negative

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

When price is _______ average cost of production, profits are ______ due to ________ averate profit.

Group of answer choices

below; negative; positive

below; positive; positive

above; positive; positive

above; negative; negative

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