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Good Morning! Can you explain which is correct and why? In a perfectly competitive market, which of the following is true: A. Firms will be

Good Morning!

Can you explain which is correct and why?

In a perfectly competitive market, which of the following is true:

A. Firms will be willing to supply more as prices increase.

B. Economic profit equals total revenue minus implicit (opportunity) costs.

C. Accounting profit includes opportunity costs.

Thank you!!

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