Ayushi Asked a Question
August 26, 2020 2:06 pmpts 30 pts
24. A firm will receive abnormal profit in the short nun if (1) VMP> MFC (2) VMP< MFC (3) VMP=AFC (4) VMP
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  • Nidhi taparia thankyou
    24. The right answer is (1). Firm makes abnormal profit when in short run, VMP > MFC. At equilibrium MFC = MRP. When VMP > MRP, it means AR > MR or non-competitive market is exi...
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