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Refer to Figure 22.3 for a perfectly competitive firm. If the market price is $10,

  1. The firm should produce 31 units.
  2. The firm will shut down in the short run.
  3. An economic loss will occur.
  4. The firm will earn normal profits.

 

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Chika Ilonah
Chika IlonahLv10
2 Nov 2020

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