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Author Question: Consider the following cost curves for Firm X, a perfectly competitive firm.FIGURE 9-8Refer to ... (Read 19 times)

am7272

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on: Oct 12, 2022

Consider the following cost curves for Firm X, a perfectly competitive firm.



FIGURE 9-8

Refer to Figure 9-8. If Firm X is producing output Q1 and the market price is P1,


◦ there is no lower-cost scale of plant which could be built by Firm X.
◦ there are profits to induce increases in output by Firm X, using its existing plant.
◦ new firms have a profit incentive to enter the industry, building larger plants.
◦ Firm X is producing at its minimum efficient scale.
◦ Firm X is at its long-run profit-maximizing position.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by am7272 on Oct 12, 2022

ad2018

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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am7272

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

Joy Chen

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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