If P exceeds AVC but is smaller than AC at the best level of output, t – InterviewSolution

1.	If P exceeds AVC but is smaller than AC at the best level of output, the firm in perfect competition is(a) Making profit (b) Minimizing losses in the short run (c) Incurring a loss and should stop producing (d) Breaking even
Answer» (b) Minimizing losses in the short run

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