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The owner of a perfectly competitive firm is currently earning an economic profit of zero. This owner should shut down since profits of zero are

The owner of a perfectly competitive firm is currently earning an economic profit of zero. This owner

should shut down since profits of zero are not good.

should raise the price of the product to increase profits.

will continue producing in the short-run but will shut down in the long run if profits do not increase.

is covering all of his fixed costs.

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