Using marginal cost (MC), average cost (AC) and marginal revenue curves in appropriate diagrams illustrate and explain how a firm operating in a perfectly comepetive market can make, normal profits, abnormal profits and a loss?
Using marginal cost (MC), average cost (AC) and marginal revenue curves in appropriate diagrams illustrate and explain how a firm operating in a perfectly comepetive market can make, normal profits, abnormal profits and a loss?