This same price taking firm would be earning an economic profit as long as the market price is great
Question: Suppose this firm is operating in a perfectly competitive market as a price taker. If the market price is $90.00, in the long run, this firm should?
a. _____ produce 8 units of output.
b. _____ produce 9 units of output.
c. _____ produce 7 units of output.
d. _____ produce 0 units of output (i.e. shut down).
e. _____ insufficient information to answer this question.
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