In the short run, if a perfectly competitive firm is producing at a price below average total cost, its economic profit is:

A. positive.
B. zero.
C. negative.
D. normal.


Answer: C

Economics

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As a result of U.S. tariffs imposed on wool from New Zealand, the quantity of this wool that is imported has

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The substitution effect of a decrease in the wage will

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Which of the following would be most likely to cause a reduction in the supply of Nintendo video games?

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