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Author Question: Consider three firms, A, B and C, all producing kilos of potatoes (per year) in a perfectly ... (Read 48 times)

Labomba

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on: Oct 12, 2022

Consider three firms, A, B and C, all producing kilos of potatoes (per year) in a perfectly competitive market. The diagrams below show marginal cost curves for each of the three firms.



FIGURE 12-1

Refer to Figure 12-1. Suppose each of Firms A, B, and C are producing 500 kilos of potatoes. Is this industry productively efficient?


◦ No, because each firm could easily produce more than 500 kilos.
◦ Yes, because output is equated for all firms.
◦ No, because marginal costs are not equated for all firms.
◦ No, because the marginal cost curve for each firm has a different slope.
◦ It is not possible to say whether this industry is productively efficient because we do not know the market price of the product.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Labomba on Oct 12, 2022

ElaneShive

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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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Labomba

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Reply 2 on: Oct 12, 2022
:D TYSM

emsimon14

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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