Page 1 of 1
Price ($ per square foot) 80 70 60 50 40 30 20 10 0 MC O firms in the industry are earning zero economic profit. O new f
Posted: Wed Jul 06, 2022 6:21 am
by answerhappygod
- Price Per Square Foot 80 70 60 50 40 30 20 10 0 Mc O Firms In The Industry Are Earning Zero Economic Profit O New F 1 (53.37 KiB) Viewed 10 times
Price ($ per square foot) 80 70 60 50 40 30 20 10 0 MC O firms in the industry are earning zero economic profit. O new firms will soon enter the industry. O it is currently in equilibrium. O existing firms will leave the industry. ATC LRAC P=MR 200 400 600 800 1000 1200 1400 Refer to the graph depicted above. Assuming that the industry operates under the conditions of perfect competition: