-Fast Copy Is a Perfectly Competitive Firm

question 306

Multiple Choice

-Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. If the market price is 2 cents per page, what is Fast Copy's economic profit?

• A) zero
• B) between 0 and $0.50 per hour
• C) between $0.51 and $1.00 per hour
• D) more than $1.00 per hour