Consider the perfectly competitive firm in the above figure. At ...

[ahriuashd]

Consider the perfectly competitive firm in the above figure. At what price will long-run equilibrium occur?
 
  A) 11
  B) 12
  C) 22
  D) 23

Question 2

If marginal cost is less than average variable cost and output increases, average total cost ________ and average variable cost ________.
 
  A) increases; increases
  B) decreases; decreases
  C) decreases; increases
  D) increases; decreases

[trog]

Answer to Question 1

C

Answer to Question 2

B

[ahriuashd]

Thank you

[trog]

No problemo