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If a Perfectly Competitive Firm's Price Is Less Than Its

Question 115

Multiple Choice
If a perfectly competitive firm's price is less than its average total cost but greater than its average variable cost, the firm A)is earning a profit. B)should shut down. C)is incurring a loss. D)is breaking even.

If a perfectly competitive firm's price is less than its average total cost but greater than its average variable cost, the firm


A) is earning a profit.
B) should shut down.
C) is incurring a loss.
D) is breaking even.

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