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Assume That in the Short Run a Perfectly Competitive Firm

Question 173

Multiple Choice

Assume that in the short run a perfectly competitive firm does not produce output and has economic losses.This occurs at the quantity where MR = MC and:


A) P = ATC and FC = 0.
B) P < AVC and FC > 0.
C) AVC > P > ATC and FC = 0.
D) AVC < P < ATC and FC > 0.

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