In the table below, the firm;Output Total Revenue Total Cost$0$30$60$90$120$150$180$25$49$69$91$117$147$180O a. cannot be in a perfectly competitive industry, because its short-run economic profitsare greater than zero.O b. must be in a perfectly competitive industry, because its marginal cost curveeventually rises.O c. cannot be in a perfectly competitive industry, because its long-run economic profitsare greater than zeroO d. must be in a perfectly competitive industry, because its marginal revenue is constant.123 456

We have to find answer following table below.

In the táblé bélów, the firm; Output Total Revenue Total Cost $25 $49 $69 0. $0 $30 $60 3 $90 $120 $150 $180 $91 $117 $147 $180 6. O a. cannot be in a perfectly competitive industry, because its short-run econon are greater than zero.

In the táblé bélów, the firm; Output Total Revenue Total Cost $25 $49 $69 0. $0 $30 $60 3 $90 $120 $150 $180 $91 $117 $147 $180 6. O a. cannot be in a perfectly competitive industry, because its short-run econon are greater than zero.

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter14: Firms In Competitive Markets

Section: Chapter Questions

Problem 4PA

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