In a Price-Taker Market, Economic Losses Indicate That

Multiple Choice

In a price-taker market, economic losses indicate that

A) some firms are using unfair tactics to harm others.
B) some firms have miscalculated, producing goods that are less valuable than the resources used to make them.
C) the situation is normal and firms need to make no adjustments.
D) the firms in the industry are not minimizing their cost; they should expand output in order to fully realize the economies of scale in the industry.