If a business is earning an economic profit in a competitive market, it is a. price gouging its customers. b. exploiting it workers. c. producing goods and services that are valued more highly than the resources required to produce them. d. producing goods and services in a market that is characterized by high entry barriers.

The correct answer is option c.

Explanation:

If a business is producing at the point where the value or price of its goods and services are higher than the value or price of resources used in it, then the firm will be having profits.  

This is because if the input price is lower than the price of product then the cost of production will be lower than the revenue earned. So the business will earn a profit.

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