UGC NET
Ayushi Asked a Question
August 27, 2020 1:14 pmpts 30 pts
  • UGC NET
  • Economics

24. a firm will receive abnormal profit in the short run if (1) vmp> mfc (2) vmp

24. A firm will receive abnormal profit in the short run if (1) VMP> MFC (2) VMP
  • 2 Answer(s)
Answer Now
  • 0 Likes
  • 3 Comments
  • Shares
  • Payel banerjee
    25. indeterminate
    Likes(0) Reply(0)
  • Payel banerjee thankyou
    24.the answer is 1
    Likes(0) Reply(0)
  • Nidhi taparia Best Answer
    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...
    Show more
    Likes(0) Reply(0)