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A perfectly competitive firm’s profit-maximizing price is $15. At MC = MR, the output is 100 units. At this level of production, average total costs are $12. The firm’s economic profits are
a. $500 in the short run.
b. $300 in the short run and long run.
c. $500 in the short run.
d. $300 in the short run.
The commercial banking industry in Canada is less competitive than the commercial banking industry in the united states
The own price elasticity of demand for apples is -1.2 if the price of apples falls by5%, what happen to the quantity of apples demanded?
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