The Figure Shows a Representative Firm in a Price-Taker Market

question 176

Multiple Choice

The figure shows a representative firm in a price-taker market.Which of the following is true regarding the situation depicted in the figure?

• A)This firm shown is earning zero economic profit.
• B)The industry is in long-run equilibrium.
• C)Firms will neither enter nor exit the market.
• D)All of the above are true.

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