If the Price a Firm Charges in a Perfectly Competitive

question 140

Multiple Choice

If the price a firm charges in a perfectly competitive industry is greater than average total cost:

• A)the firm is earning an economic profit equal to zero.
• B)the firm is earning an economic profit greater than zero.
• C)the firm is earning an economic profit less than zero.
• D)it is not possible to determine anything about profits.

---

Definitions:

Bipedal

The ability to walk on two legs, characteristic of humans and their ancestors.

Ground Dwellers

Animals or organisms that live primarily on or near the ground rather than in trees or water.

Primates

An order of mammals, including humans, monkeys, and apes, characterized by large brains, forward-facing eyes, and opposable thumbs.

Arboreal

Living in the trees.