In the short run, a perfectly competitive firmSelect one:a. can earn a small economic profit while being shut down.b. incurs an economic loss if it shuts down.O c. does not consider total revenue in its shut down decision.O d. shuts down if it incurs any economic loss.

Perfect competition and short-run: The firms are the price taker, and there are free entry and exit…

In the short run, a perfectly competitive firm Select one: O a. can earn a small economic profit while being shut down. O b. incurs an economic loss if it shuts down. O c. does not consider total revenue in its shut down decision. O d. shuts down if it incurs any economic loss.

In the short run, a perfectly competitive firm Select one: O a. can earn a small economic profit while being shut down. O b. incurs an economic loss if it shuts down. O c. does not consider total revenue in its shut down decision. O d. shuts down if it incurs any economic loss.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In the short run, a perfectly competitive firm
Select one:
a. can earn a small economic profit while being shut down.
b. incurs an economic loss if it shuts down.
O c. does not consider total revenue in its shut down decision.
O d. shuts down if it incurs any economic loss.

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