A3 2.5 Figure 14-1 Suppose that a firm in a competitive market has the following cost curves Refer to Figure 14-1. The firm will earn a positive economic profit in the short run if the market price is above $6.30 less than 56.30 but more than $4.50. less than $4.50 exactly $6.30.

3 Figure 14-1 Suppose that a firm in a competitive market has the following cost curves: Prive 13 11 MC ATC AVC 123 6 9 10 11 Qay Refer to Figure 14-1. The firm will earn a positive economic profit in the short run if the market price is above $6.30, less than $6.30 but more than $4.50. less than $4.50 exactly $6.30. 2.5