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Which of the following must be true in order for a firm to earn economic profits?

A

The firm's price must be greater than its marginal cost.

B

The firm's marginal revenue must be greater than its marginal cost.

C

The firm's marginal revenue must be equal to its marginal cost.

D

The firm's total revenue must be greater than its total costs.

E

The firm's total revenue must be equal to its total costs.

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