menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Microeconomics Study Set 45
  4. Exam
    Exam 11: Pure Competition in the Long Run
  5. Question
    If the Competitive Firm Depicted in This Diagram Produces Output
Solved

If the Competitive Firm Depicted in This Diagram Produces Output

Question 20

Question 20

Multiple Choice

  If the competitive firm depicted in this diagram produces output Q, it will A) suffer an economic loss. B) earn a normal profit. C) earn an economic profit. D) achieve productive efficiency but not allocative efficiency. If the competitive firm depicted in this diagram produces output Q, it will


A) suffer an economic loss.
B) earn a normal profit.
C) earn an economic profit.
D) achieve productive efficiency but not allocative efficiency.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q15: The transformative effects of competition that foster

Q16: When there is allocative efficiency in a

Q17: Compare the shape of a long-run supply

Q18: If the representative firm in a purely

Q19: If the price of bottled water is

Q21: When firms in a purely competitive industry

Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" The graphs are

Q23: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" Refer to the

Q24: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" Line (2)in the

Q25: Suppose that an industry's long-run supply curve

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines