If the market price is less than a perfectly competitive firm's average total cost, what sort of profit or loss is the firm making?

The data in the above table demonstrates that gains from trade can be captured if

A) the United States produced both goods. B) the United States produced steel in exchange for concrete produced in France. C) the United States produced concrete in exchange for steel produced in France. D) each country became self-sufficient, produced both goods for itself, and did not engage in trade.

The above figure shows the demand and cost curves for a firm in ________ in the ________

A) perfect competition; short run B) monopolistic competition; long run C) perfect competition; long run D) monopolistic competition; short run