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Question 1 (1 point) A firm producing a positive output level, covering variable costs but making a loss in the short run O mQuestion 3 (1 point) The short-run supply curve of a perfectly competitive firm is O its demand curve, because it is a priceQuestion 5 (1 point) The existence of positive profits in a perfectly competitive industry O is a signal for existing firms t

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Answer #1

1- (A)

It is doing the best that it can do with respect to its profitm

2- (E)

3-(C)

Short run supply curve of a perfectly competitive firm is nothing but its mc curve above the point of minimum avc.

4- (D)

5- (D)

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