-Use the figure above to answer this question.Consider a perfectly competitive firm in a short run equilibrium.Figure ________ shows a firm in bad times because the firm produces ________ units and makes a(n)________.
A) A; 100; economic loss
B) A; 110; economic loss
C) B; 90; economic profit
D) C; 100; economic loss
E) C; 100; normal profit

Question

-Use the figure above to answer this question.Consider a perfectly competitive firm in a short run equilibrium.Figure ________ shows a firm in bad times because the firm produces ________ units and makes a(n)________.
A) A; 100; economic loss 
B) A; 110; economic loss 
C) B; 90; economic profit 
D) C; 100; economic loss 
E) C; 100; normal profit

Quizplus · Accepted Answer

In a perfectly competitive market, a firm is in bad times if it produces at a loss. Figure A shows the firm producing 100 units and making an economic loss.

-Use the Figure Above to Answer This Question