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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
Consider a short-run equilibrium in a perfectly competitive market. Suppose that the firms' average total cost and marginal cost schedules differ. In the short run,
A) all firms in the market must be able to make an economic profit.
B) all firms produce equal amounts of output.
C) some firms might incur an economic loss, but still produce output.
D) some firms might make an economic profit and, as a result, shut down.
E) all firms in the market must be able to make either positive or zero economic profit.
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
Don't mention it Happy Dummy
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