Multiple Choice
Figure 16-8 
-Refer to Figure 16-8. Which of the following best describes the profit-maximizing outcome for the firm depicted here?
A) This firm is earning a short-run profit, but will earn zero profit in the long run.
B) This firm is incurring a short-run loss, but will earn zero profit in the long run.
C) This firm is earning zero profit in the short run, but will earn a positive profit in the long run.
D) This firm is in long run equilibrium and will continue to earn zero profit.
Correct Answer:
Verified
Correct Answer:
Verified
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