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suppose a firm in a purely competitive market discovers that the price of its product is above its minimum avc point but everywhere below atc. given this, the firm question 23 options: should continue producing in the short run but leave the industry in the long run if the situation persists. maximizes profits by producing where mr

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6 votes
The correct answer is that the firm should continue producing in the short run but leave the industry in the long run if the situation persists.
User Maurizia
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