When P < ATC in the long run, a perfectly competitive firm experiences economic profit and new firms will enter the market.
Answer the following statement true (T) or false (F)
False
If P < ATC in the long run, a perfectly competitive firm is experiencing economic losses and will exit the market.
Economics
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Refer to Figure 9.2. At price 0E and quantity Q*, producer surplus is the area
A) 0ACQ*. B) 0ECQ*. C) 0FCQ*. D) EFC. E) none of the above
Economics
Which of the following examples might cause an increase in demand for land?
a. The app was useful to find an alternate route during construction. b. A report convinced many Americans that breathing sea air lowers blood pressure. c. The old train station was being remodeled into a restaurant. d. A neighborhood group raised money for a community playset for the park.
Economics