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spruckj spruckj
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5 years ago
If a perfectly competitive firm has economic profits greater than zero, then we know that

• the firm's industry is not in long-run equilibrium.

• the firm's industry is in long-run equilibrium.

• the firm will reduce output.

• the firm is producing at the bottom of the average total cost curve.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
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mcwieckmcwieck
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5 years ago
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Just got PERFECT on my quiz
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Thank you, thank you, thank you!
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