In the short run, a perfectly competitive firm can experience which of the following?
i. an economic profit
ii. an economic loss but it continues to stay open
iii. an economic loss equal to its total fixed cost when it shuts down
A) only i
B) i and ii
C) i and iii
D) ii and iii
E) i, ii, and iii
E
Economics
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Using the market shares in the table above, if Widgotech buys Widgette the HHI will
A) stay the same. B) rise by 1 point. C) rise by 10 points. D) rise by 18 points.
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