Figure 8.6.1 -Refer to Figure 8.6.1 Above. the Minimum Variable Cost of Cost

question 57

Multiple Choice

Figure 8.6.1
-Refer to Figure 8.6.1 above. The minimum variable cost of the firms in this competitive market is:

• A) the same for all the firms in the market.
• B) lower for firms 1 and 2.
• C) lower for firm 3.
• D) an unknown level, based on the figure.

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