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Economics & Financial Literacy
12.18 Perfect Competition and Entry/Exit
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A student argues, 'Because fixed costs are already paid, a firm should always produce something.' Which evidence would disprove that claim?
A
At the best output, total revenue is greater than variable cost.
B
At every positive output, total variable cost is greater than total revenue.
C
At the best output, price is greater than average variable cost.
D
The firm earns zero economic profit in long-run equilibrium.
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