Discuss why an orange farm like yours

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Question: Discuss why your orange farm business is likely a perfectly competitive firm.

Describe a scenario where you would want to stay in business despite operating at a loss. [Hint: this has to do with the concept of shutdown price.]

Discuss why an orange farm like yours will likely have zero economic profits in the long run.

Explain why this orange farm is likely to be allocatively and productively efficient.

Reference no: EM133553785

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