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Use the Figure Below to Answer the Following Questions

Question 101

Multiple Choice

Use the figure below to answer the following questions. Use the figure below to answer the following questions. Figure 13.2.3 -Refer to Figure 13.2.3.Assume this firm faces demand curve D<sub>2</sub>.If the firm produces the efficient quantity,it A) makes an economic profit. B) makes zero economic profit. C) incurs an economic loss. D) is in a long-run equilibrium. E) will face competition from new firms entering the industry. Figure 13.2.3
-Refer to Figure 13.2.3.Assume this firm faces demand curve D2.If the firm produces the efficient quantity,it


A) makes an economic profit.
B) makes zero economic profit.
C) incurs an economic loss.
D) is in a long-run equilibrium.
E) will face competition from new firms entering the industry.

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