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Discuss and Explain What Happens When a Firm in Perfect

question 109

Essay

Discuss and explain what happens when a firm in perfect competition is making positive economic profit. Use graphs to support your answer. Do the same for a firm that is producing where P < ATC yet P > minimum AVC. Explain what a firm will do if P < minimum AVC.


Definitions:

REM Sleep

A stage of sleep characterized by rapid eye movement, vivid dreams, and increased brain activity.

N3 Sleep

The deepest stage of non-REM (Rapid Eye Movement) sleep, characterized by delta brainwaves and considered crucial for physical restoration and memory consolidation.

Heredity And Environment

The two main factors that influence individual development, including genetics (heredity) and external factors (environment).

Rapid Eye Movements

Are quick, jerky movements of the eyes that occur during REM sleep, a stage associated with vivid dreaming.

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