Question
In a short run when does a firm operating in a perfectly competitive market earn supernormal profit.
A. When the average revenue is greater than marginal cost.
B. When the average revenue is equal to average cost
C. When the average revenue is greater than average cost.
D. When the average revenue is equal to average cost.
A. When the average revenue is greater than marginal cost.
B. When the average revenue is equal to average cost
C. When the average revenue is greater than average cost.
D. When the average revenue is equal to average cost.
Answers
GPT 3.5
A. When the average revenue is greater than marginal cost.
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