Figure 1 Suppose that a firm in a competitive market has the following cost curves: PRICE 10 9 MC 2 3 QUANTITY ATC AVC 5
Posted: Sun Jul 03, 2022 1:00 pm
- Figure 1 Suppose That A Firm In A Competitive Market Has The Following Cost Curves Price 10 9 Mc 2 3 Quantity Atc Avc 5 1 (43.07 KiB) Viewed 12 times
Refer to Figure 1. If the market price is $5, the firm will earn zero economic profits in the short run positive economic profits in the short run negative economic profits and shut down negative economic profits in the short run but remain in business