Figure 14-4 Suppose a Firm Operating in a Competitive Market Has the Has

question 35

Multiple Choice

Figure 14-4
Suppose a firm operating in a competitive market has the following cost curves:
-Refer to Figure 14-4. The firm will earn positive economic profits if the price is (i)
P4)
(ii)
P3)
(iii)
P2)
(iv)
P1)

• A)(i) only
• B)(i) or (ii) only
• C)(i), (ii), or (iii) only
• D)(i), (ii), (iii), and (iv)