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The graph below shows cost curves for a firm operating in a perfectly competitive market.

Suppose that the equilibrium price is $17.28 (black line). This firm is earning

 

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The graph below shows cost curves for a firm operating in a perfectly competitive market.

Suppose that the equilibrium price is $12.98 (black line). This firm is earning

 

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The graph below shows cost curves for a firm operating in a perfectly competitive market.

Suppose that the equilibrium price is $10.19 (black line). This firm is earning

 

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The graph below shows cost curves for a firm operating in a perfectly competitive market.

Suppose that the equilibrium price is $9 (black line). This firm is earning

 

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   x    (   ) π DNE
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