41). A firm will always make an economic profit if A) P = ATC. B) P > AVC. C) P = MC.

Micro Module 2 Homework.pdf 

A) high revenues B) normal profit C) economic profit D) low cost E) lack of competitionPURE COMPETITION PROFIT ANALYSISSHORT RUN REVENUE/COST CURVES - FIRM AMCATCAVCPriceMR AMR 3MR 2MR0Quantity+(note: each of the above horizontal curves (lines) represent a different demand curve for firmA. Remember that in pure competition a firm's demand curve D = P = MR)