(Figure: Determining Long-Run Adjustments) the Figure Depicts the Cost Curves

question 210

Multiple Choice

(Figure: Determining Long-Run Adjustments) The figure depicts the cost curves for a firm in a perfectly competitive industry. At a market price of $40, the firm

• A) would incur an economic loss but minimizes the loss by staying in operation.
• B) earns normal profit.
• C) would minimize its loss by shutting down.
• D) earns positive economic profit.

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