The diagram below shows the short- run cost curves for 3 perfectly competitive firms in the same industry. 
FIGURE 9- 6
-Refer to Figure 9- 6. Which of the following statements about Firms A, B and C is true?
Definitions:
Profits Equally
A principle where all parties involved in a business venture or agreement share the generated profits equally.
Joint Ventures
A business arrangement between two or more parties who agree to combine resources for the purpose of accomplishing a specific task or project.
Share Profits
The distribution of a portion of a company's earnings to its shareholders as determined by the board of directors.
Share Losses
In investing, refers to the apportioning of financial losses among shareholders or partners in proportion to their ownership or interest in the enterprise.
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