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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Organisational Behaviour In The Workplace
Authors: Jacqueline Mclean, Laurie Mullins
12th Edition
1292245484, 978-1292245485
