MC ATC Price (per il $100 Market Price PMR Quantity (units per week) Figure 23.2 Refer to Figure 23.2 for a perfectly competitive firm. Given the current market price of $100, we expect to see Multiple Choice Exit from this industry. Entry into this industry Barb's Soccer Ball Company produces 800 soccer balls per week. If the firm used marginal cost pricing to determine soccer ball output, it would produce 600 soccer balls. Consumers do not receive the most desirable quantity of soccer balls from Bib's because Multiple Choice The cost of producing the additional 200 soccer balls is less than the amount that consumers are willing to pay for the additional soccer balls. The cost of producing the additional 200 soccer balls is greater than the amount that consumers are willing to pay for the additional soccer balls. The firm must be earning higher than normal economic profits Economic losses are occurring, MC ATC Price (per il $100 Market Price PMR Quantity (units per week) Figure 23.2 Refer to Figure 23.2 for a perfectly competitive firm. Given the current market price of $100, we expect to see Multiple Choice Exit from this industry. Entry into this industry Barb's Soccer Ball Company produces 800 soccer balls per week. If the firm used marginal cost pricing to determine soccer ball output, it would produce 600 soccer balls. Consumers do not receive the most desirable quantity of soccer balls from Bib's because Multiple Choice The cost of producing the additional 200 soccer balls is less than the amount that consumers are willing to pay for the additional soccer balls. The cost of producing the additional 200 soccer balls is greater than the amount that consumers are willing to pay for the additional soccer balls. The firm must be earning higher than normal economic profits Economic losses are occurring