If the Average Total Cost Curve of a Perfect Competitor

question 194

Multiple Choice

If the average total cost curve of a perfect competitor lies above its demand curve,

• A)the firm is definitely in the short run.
• B)the firm is probably in the short run.
• C)the firm is definitely in the long run.
• D)the firm is probably in the long run.
• E)there is no way to determine whether the firm is in the short run or the long run.

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Definitions:

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The action of finding the number of elements of a finite set of objects.

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