In the short run, a perfectly competitive firm earning positive economic profit is
A) on the downward-sloping portion of its ATC.
B) at the minimum of its ATC.
C) on the upward-sloping portion of its ATC.
D) above its ATC.
E) below its ATC.
C
Economics
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The total willingness to pay for public restrooms in a city is given in the table below:
Number of Restrooms Total willingness to pay 1 $208,000 2 $199,000 3 $150,000 4 $85,000 If the marginal cost of building a public restroom is $208,000, how many restrooms will be built? A) 1 B) 2 C) 3 D) 4
Economics
New classical economists believe that it is possible under certain circumstances for an increase in the money supply to lead to a decrease in Real GDP in the short run
Indicate whether the statement is true or false
Economics