Use the Following to Answer Question

question 339

Multiple Choice

Use the following to answer question:
-(Table: Cherry Farm) Use Table: Cherry Farm.Suppose there are 100 farms in this industry with identical cost curves,as shown in the table.If the price is $3.60 per pound:

• A)firms will enter the industry.
• B)firms will exit the industry.
• C)the industry is in long-run equilibrium.
• D)no firms will produce in the industry in the short run.

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Definitions:

Adding Value

The process of enhancing a product or service to make it more attractive to customers, thereby increasing its worth.

Venture Capital Firm

A company that invests in startups and early-stage companies with high growth potential in exchange for equity.

Entrepreneur

An individual who organizes, operates, and assumes the risk for a venture, innovating and transforming ideas into economically viable entities.

Tax Exposure

The degree to which an individual or organization is subject to taxes or the risk of tax-related liabilities.