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