If a profit-maximizing, perfectly competitive firm is making only a normal profit in the short run, then the firm is in:
a. disequilibrium.
b. equilibrium where MR exceeds minimum ATC.
c. equilibrium where MR equals minimum AVC.
d. equilibrium where P = AFC.
e. equilibrium where P = ATC
e
Economics
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If the price is greater than the marginal cost of producing a good, the seller has
A) no benefit from the sale. B) a loss. C) some producer surplus from the sale. D) some negative consumer surplus from the sale. E) None of the above answers is correct.
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Negative externalities lead to over supply in a market
Indicate whether the statement is true or false
Economics