Economics · Market Structures

A firm earns supernormal (abnormal) profit in the short run when:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Average cost equals marginal cost
2Average cost is less than price✓
3Average cost is greater than price
4Average cost equals price

Correct answer

Average cost is less than price

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A firm earns supernormal (abnormal) profit in the short run when:

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A firm earns supernormal (abnormal) profit in the short run when:

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