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Help with #15 please.
15. Suppose a firm ina purely competitive market discovers that the price of its product is above its minimum AVc point but e
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Answer #1

"D"

The firm will continue to produce at the point were it is producing in the short run, as the firm continues to produce it is facing a loss as the price is less than total cost, in the long run it will shut down but not in the short run.

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Help with #15 please. 15. Suppose a firm ina purely competitive market discovers that the price of its product is ab...
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