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Eco 365 Week 2
ECO 365 Week 2 Knowledge Check
1. A perfectly competitive firm will be profitable if price at the
Profit maximizing quantity is above
A. MC
B. ACV
C. ATC
D. AFC
The Correct Answer is C.
2. in a perfectly competitive market,
A. individual producers determine market prices
B. market supply and market demand determine the price
C. the entrepreneur determines the price
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