In the given figure below, a firm:
A. is making an abnormal profit in a monopolistic competitive situation
B. is undergoing losses in a monopoly
C. is at break-even in a perfectly competitive market
D. does not know if it is making a profit or is undergoing a loss.
Answer:A
In the given figure below, a firm:
A. is making an abnormal profit in a monopolistic competitive situation B. is undergoing losses in a monopoly C. is at break-even in a perfectly competitive market D. does not know if it is making a profit or is undergoing a loss.