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Author Question: Consider the perfectly competitive firm in the above figure. At what price will long-run equilibrium ... (Read 111 times)

ahriuashd

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on: Jun 29, 2018
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

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


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ahriuashd

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Reply #2 on: Jun 29, 2018
Thank you


trog

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Reply #3 on: Jun 29, 2018
No problemo


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