A-LevelEconomicsTheory of the FirmMay/June 2018Paper 3 Q91 Mark
An imperfectly competitive firm was making supernormal profits. The following year it made normal profit with no change in output. How could this situation be shown on a diagram for an imperfectly competitive firm? A by a movement to the left of the average revenue curve B by a movement to the right of the marginal revenue curve C by a shift to the right of the marginal cost curve D by an upward shift in the average cost curve
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