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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 $25.66 (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 $7.56 (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 $19.66 (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 $20 (black line). This firm is earning

 

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   x    (   ) π DNE
( ) ( ] [ ) [ ] —∞ DNE
< > or All Real Numbers DNE
log logn ln n  | | e 
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