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In the short run, a perfectly competitive firm earning negative economic profit... a) is on the downward-sloping portion of its AVC. b) is at the
In the short run, a perfectly competitive firm earning negative economic profit...
a) is on the downward-sloping portion of its AVC.
b) is at the minimum of its AVC.
c) is on the upward-sloping portion of its AVC.
d) is not operating on its AVC.
e) can be at any point on its AVC.
What is the answer, and please explain why.
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