Suppose That Mark Sells Fish in a Perfectly Competitive Market

question 110

Multiple Choice

Suppose that Mark sells fish in a perfectly competitive market. He can sell each fish for $5. Today he brought forty fish to the fish market. If his total variable cost is $110 and his total fixed cost is $50, he

• A) will earn a normal profit.
• B) has earned an economic profit.
• C) should have stayed home.
• D) should raise his asking price.

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