Market Structures Project E Cutthroat Oligopoly F Could be either B, C, or D 2 The...

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Market Structures Project E Cutthroat Oligopoly F Could be either B, C, or D 2 The firm in figure is Pure Breaking even B. Ma

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Answer 1

Answer #1

a) The firm shown here is a perfectly competitive firm as the demand curve is perfectly elastic in the market. The answer is "A".

b) the firm is breaking even because they are producing at a point where the firm is producing at the point were the ATC is the minimum.

c) At breaking even point the firm is getting zero profit and zero loss in the market.

d) At this point the firm is in the long run equilibrium because no more firms will enter the market and no firms will leave the market.

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Answer 2

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