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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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8 years ago
If the market price is $50 per unit for a good produced in a perfectly competitive market and the firm's average total cost is $52, then the firm
A) incurs an economic loss of $2 per unit.
B) makes an economic profit of $2 per unit.
C) makes zero economic profit.
D) incurs a total economic loss of $52.
E) More information is needed to determine the firm's economic profit or loss per unit.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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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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SmooothSmoooth
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8 years ago
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8 years ago
Don't mention it Happy Dummy
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