1. For perfect competition, if P> min ATC, it means
a. The firm breaks even
c. The firm is...
Social Studies, 20.06.2020 21:57 perezsamantha3oqr0za
1. For perfect competition, if P> min ATC, it means
a. The firm breaks even
c. The firm is profitable
b. The firm incurs loss
d. The firm will exit the industry
2. In perfect competition market, in the short run, the firm decides to shut down if.
a. TR
c. P
b. TR/Q
d. All of the above
3. In perfect competition, in the long run, the firm exits from the market if
a. TR
c. P
b. TR/Q
d. All of the above
Answers: 3
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