Multiple Choice
Assume a purely competitive firm is selling 200 units of output at $3 each. At this output, its total fixed cost is $100 and its total variable cost is $350. This firm
A) is maximizing its profit.
B) is making a profit, but not necessarily the maximum profit.
C) is incurring losses.
D) should shut down in the short run.
Correct Answer:
Verified
Correct Answer:
Verified
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