If in a Perfectly Competitive Industry, the Market Price Facing

question 119

Multiple Choice

If in a perfectly competitive industry, the market price facing a firm is below its average total cost but above average variable cost at the output where marginal cost equals marginal revenue

• A)the industry supply will not change.
• B)new firms are attracted to the industry.
• C)some existing firms will exit the industry.
• D)firms are breaking even.

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Definitions:

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Antipsychotic medication.