Refer to the information provided in Figure 12.4 below to answer ...

[wenmo]

Question 1

Refer to the information provided in Figure 12.4 below to answer the question(s) that follow.







There are two sectors in the economy, X and Y, and both are in long-run, zero-profit equilibrium at the intersections of S⁰ and D⁰.


Refer to Figure 12.4. Currently in sector 
X, price is

◦ greater than average cost.
◦ less than average cost.
◦ equal to average cost.
◦ More information is needed to answer the question.

Question 2

Refer to the information provided in Figure 12.4 below to answer the question(s) that follow.







There are two sectors in the economy, X and Y, and both are in long-run, zero-profit equilibrium at the intersections of S⁰ and D⁰.


Refer to Figure 12.4. Currently in sector 
Y, price is

◦ greater than average cost.
◦ less than average cost.
◦ equal to average cost.
◦ More information is needed to answer the question.

[Ashley I]

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[wenmo]

Thanks for the timely response, appreciate it

[ricroger]

Gracias!