Business, 24.06.2019 23:20 jogose6

Suppose a perfectly competitive firm faces the following situation: p = $9, output = 4,000, atc = $9, avc = $6, and mc = $9. which statement accurately describes the firm's and the market's situation? the firm incurs a normal profit; the market is in a long-run equilibrium. the firm incurs losses; the market is in the short run. the firm incurs economic profits; the market is in the short run. the firm incurs economic profits; the market is in a long-run equilibrium.

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Suppose a perfectly competitive firm faces the following situation: p = $9, output = 4,000, atc = $...