In a Perfectly Competitive Market, If a Resource That One

Multiple Choice

In a perfectly competitive market, if a resource that one firm utilizes is superior to resources used by other firms, and, as a result, lowers unit costs for the firm, that firm is likely to earn __________ in the short run. In time, however, the firm's __________ curve will rise to reflect the superior-quality of the resource it employs and the firm will then earn __________.

A) normal profit; ATC; positive economic profit
B) positive economic profit; ATC; normal profit
C) positive economic profit; marginal revenue; zero profit
D) losses; ATC; positive economic profit
E) none of the above