Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. If the market price is 2 cents per page, what is Fast Copy's economic profit?
A) zero
B) between 0 and $0.50 per hour
C) between $0.51 and $1.00 per hour
D) more than $1.00 per hour
A
Economics
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In the 1970s there was a long draught in California that left a large section of Southern California parched
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Activist capitalists who seek out or create earnings opportunities and assume risk, for which they receive profits, are called
a. rent seekers. b. entrepreneurs. c. muckrakers. d. marginalists.
Economics