Multiple Choice
If a perfectly competitive firm finds that the price exceeds its ATC,then the firm
A) will raise its price to increase its economic profit.
B) will lower its price to increase its economic profit.
C) is making an economic profit.
D) is incurring an economic loss.
E) is making zero economic profit.
Correct Answer:

Verified
Correct Answer:
Verified
Q117: If perfectly competitive firms are making an
Q118: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" The figure
Q119: The table below shows the total cost
Q120: A perfectly competitive firm is producing 50
Q121: Based on the figure above,if the firm
Q123: In a perfectly competitive industry,<br>i.entry by new
Q124: Technology reduces the average cost of production,so
Q125: Technological change brings a _ to firms
Q126: A perfectly competitive firm should shut down
Q127: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The above figure