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If the price is less than a perfectly competitive firm's minimum average variable cost, the firm

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If the price is less than a perfectly competitive firm's minimum average variable cost, the firm

If the price is less than a perfectly competitive firm's minimum average variable cost, the firm
A) makes an economic profit.
B) operates and incurs an economic loss equal to total fixed cost.
C) operates and incurs an economic loss equal to average variable cost.
D) shuts down and incurs an economic loss equal to total fixed cost.
E) shuts down and incurs an economic loss equal to average variable cost.

Textbook

Essential Foundations of Economics

Edition: 7^th

Authors: Bade, Parkin

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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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