A Perfectly Competitive Firm Is Definitely Making an Economic Profit

question 479

Multiple Choice

A perfectly competitive firm is definitely making an economic profit when

• A) MR = MC.
• B) P = ATC.
• C) P < ATC.
• D) P > ATC.

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Definitions:

Electricity

A form of energy resulting from the existence of charged particles which can be statically held or dynamically flowing through conductors.

Coal

A combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams, used as a fossil fuel for producing electricity and heat.

Global Coal Supplies

The total quantity of coal available for use worldwide, encompassing both proven reserves and resources yet to be discovered.

Depleted

A condition where a significant amount of a resource or substance has been consumed or removed, often leading to scarcity.