Use the Table Below to Answer the Following Question

question 48

Multiple Choice

Use the table below to answer the following question.
Table 11.4.1

-Refer to Table 11.4.1.The top table shows the market demand schedule for paper.The market is perfectly competitive and there are 1,000 firms that produce paper.Each firm has the costs shown in the bottom table when it uses its least-cost plant.The market price in the long run is ________ a box and the equilibrium quantity produced in the long run is ________ boxes a week.

• A)$11.60;250,000
• B)$10.00;400,000
• C)$10.00;300,000
• D)$6.40;a little more than 400,000
• E)$8.40;350,000

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Definitions:

Triangles

Triangles are three-sided polygons characterized by three edges and three vertices; they can be classified into various types based on the length of their sides and angles.

Four Angles

A geometric configuration or shape that possesses four angles, commonly referring to quadrilaterals.

Unconscious Thoughts

Mental processes that occur without an individual's conscious perception or awareness.

General Population

The overall group of individuals in a society, not segregated by any specific criteria.