If you're seeing this message, it means we're having trouble loading external resources on our website.

If you're behind a web filter, please make sure that the domains *.kastatic.org and *.kasandbox.org are unblocked.

Main content

Course: AP®︎/College Microeconomics > Unit 3

Lesson 6: Firms’ Short-run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
Economics
AP®︎/College Microeconomics
Production, cost, and the perfect competition model
Firms’ Short-run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
© 2024 Khan AcademyTerms of usePrivacy PolicyCookie Notice

Firms’ Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market

Google Classroom

Problem

The cost and revenue curves for a perfectly competitive industry are shown in this graph:
What is the quantity that this firm will choose in the short run, and what is its economic profit or loss?
Choose 1 answer: