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Author Question: If a perfectly competitive firm's average total cost is less than the price, then the firm (Read 109 times)

robinn137

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on: May 24, 2019
If a perfectly competitive firm's average total cost is less than the price, then the firm
◦ incurs an economic loss.
◦ makes an economic profit.
◦ makes zero economic profit.
◦ makes either zero economic profit or an economic profit depending on whether the marginal revenue is equal to or greater than the price.
◦ None of these answers is correct because the relationship between the price and average total cost has nothing to do with the firm's profit.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by robinn137 on May 24, 2019

whitcassie

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Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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robinn137

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Reply #2 on: May 24, 2019
TY


whitcassie

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Reply #3 on: May 24, 2019
You're welcome


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