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If price is below AVC for a perfect competitor: Group of answer choices A. the firm will earn economic profit B. the firm will minimize
If price is below AVC for a perfect competitor: Group of answer choices A. the firm will earn economic profit B. the firm will minimize its loss by producing where marginal revenue equals marginal cost C. the firm should shutdown to minimize its loss D. None of the above
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Managerial Economics and Business Strategy
Authors: Michael Baye, Jeff Prince
8th edition
9780077802615, 73523224, 77802616, 978-0073523224
