Suppose That Betty's Beads Is a Typical Firm Operating in a Perfectly

question 20

Multiple Choice

Suppose that Betty's Beads is a typical firm operating in a perfectly competitive market. Currently Betty's MR = $15, MC = $12, ATC = $10, and AVC = $8. Based on this information, we can conclude that

• A) Betty's is in long-run equilibrium.
• B) potential new firms will be encouraged by Betty's success to enter the market.
• C) some existing firms in this market will leave.
• D) potential new firms will be discouraged by Betty's struggles and not enter the market.

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