Refer to the Accompanying Figure to Answer the Following Questions

question 155

Multiple Choice

Refer to the accompanying figure to answer the following questions.

-If the price is $3,the firm is making

• A) a loss and will exit the market.
• B) a profit and will exit the market.
• C) a loss and more firms will enter the market.
• D) a profit and more firms will enter the market.
• E) zero profits and the market is at long-run equilibrium.

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