In the short run, which of the following would indicate that a perfectly competitive firm is producing an output for which it is receiving a normal profit?
A) P > AC
B) AVC < P < AC
C) P = AC
D) P = AVC
C
Economics
You might also like to view...
What are the steps involved in optimization in levels? If option A has a cost of $5 and provides a benefit of $8, and option B has a cost of $10 and provides a benefit of $15, which of the two projects is optimal?
What will be an ideal response?
Economics
The interest payment on a bond is called a face value payment
Indicate whether the statement is true or false
Economics