In the Short Run, If a Perfectly Competitive Firm Is

question 22

Multiple Choice

In the short run, if a perfectly competitive firm is producing at a price below average total cost, its economic profit is:

• A) positive.
• B) zero.
• C) negative.
• D) normal.

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Definitions:

Carbonates

Rocks or minerals that contain abundant carbonate.

Element C

Element C refers to Carbon, a chemical element with symbol C and atomic number 6, essential to all known living systems and widely used in various scientific, industrial, and technological applications.

Calcite

A common mineral form of calcium carbonate, widely found in sedimentary, metamorphic, and igneous rocks.

Cleavage

The tendency of a mineral to break along flat, even surfaces as a result of weak bonding in certain directions in the mineral's crystal structure.