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-The Above Figure Shows a Perfectly Competitive Firm

question 35

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  -The above figure shows a perfectly competitive firm. If the market price is more than $20 per unit, the firm A)  will definitely shut down to minimise its losses. B)  will stay open to produce and will make zero economic profit. C)  will stay open to produce and will incur an economic loss. D)  will stay open to produce and will make an economic profit. E)  might shut down but more information is needed about the fixed cost.
-The above figure shows a perfectly competitive firm. If the market price is more than $20 per unit, the firm

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Definitions:

Projecting

A process through which people ascribe their own personal attributes onto others.

Attitude

A learned predisposition to respond in a consistently favorable or unfavorable manner with respect to a given object, person, or issue.

External Attributions

The process of explaining someone's behavior by referring to situational factors, rather than personal characteristics.

Situational Factors

External elements or circumstances that can influence an individual's behavior or the outcome of a decision or event.

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