Suppose a perfectly competitive firm faces the following situation: p = $9, output = 4,000, atc = $9, avc = $6, and mc = $9. which statement accurately describes the firm's and the market's situation? the firm incurs a normal profit; the market is in a long-run equilibrium. the firm incurs losses; the market is in the short run. the firm incurs economic profits; the market is in the short run. the firm incurs economic profits; the market is in a long-run equilibrium.

a

explanation:

answeraggressive behavior tactics include all of the above;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.