Question
The equilibrium price in a perfectly competitive marketis $15.A firm in this market has an average cost of $12 and produces 100 units where MR
The equilibrium price in a perfectly competitive marketis $15.A firm in this market has an average cost of $12 and produces 100 units where MR =MC.The firm's profits are:
A. $300 in the short run and the long run.
B. $300 in the short run and zero in the long run.
C. $500 in the short run and in the long run.
D. $500 in the short run and zero in the long run.
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Justice In A Global Economy Strategies For Home, Community, And World
Authors: Rebecca Todd Peters, Pamela K Brubaker, Laura A Stivers
1st Edition
0664229557, 9780664229559
