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Title: Assume a perfectly competitive firm is producing 500 units of output, P = $7, ATC of the 500th unit ... Post by: hiusy98 on Jan 23, 2017 Assume a perfectly competitive firm is producing 500 units of output, P = $7, ATC of the 500th unit is $6, marginal cost of the 500th unit = $7, and AVC of the 500th unit = $5. Based on this information, the firm is:
A) earning an economic profit of $500. B) earning an economic profit of $1,000. C) incurring a loss of $500. D) incurring a loss of $1,000. Title: Re: Assume a perfectly competitive firm is producing 500 units of output, P = $7, ATC of the 500th ... Post by: andyborzi on Jan 23, 2017 Content hidden
Title: Re: Assume a perfectly competitive firm is producing 500 units of output, P = $7, ATC of the 500th unit ... Post by: hiusy98 on Mar 27, 2017 Project is complete now, thank you for your expertise!
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