If a firm in a perfectly competitive market suffers an economic loss,
A. price is less than its marginal cost.
B. price is less than its marginal revenue.
C. price is less than its average total cost.
D. none of the above
Answer:C
If a firm in a perfectly competitive market suffers an economic loss,
A. price is less than its marginal cost. B. price is less than its marginal revenue. C. price is less than its average total cost. D. none of the above