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

question 80

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

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