These Are the Cost and Revenue Curves Associated with a Firm

question 70

Multiple Choice

These are the cost and revenue curves associated with a firm.
Assuming the firm in the graph is producing Q1 and charging P3,it is likely showing the cost and revenue curves of a firm in:

• A)the long run,and economic profits are zero.
• B)the short run,and accounting profits are negative.
• C)the long run,and accounting profits are zero.
• D)the short run,and economic profits are positive.

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