In: Economics
When a firm is earning positive economic profits, this is an indication that the firm
Multiple Choice
Is using its resources in one of a number of ways that would yield positive economic profits.
Should leave this market in the long run.
Is using its resources in the best possible way.
Is producing at the minimum ATC.
Is using its resources in the best possible way.
Explanation: Economic profit takes the opportunity costs under consideration. So, when a firm earns positive economic profit, it means the firm cannot earn a higher profit by using its resources in any other way.