Below,the Graph on the Left Shows Long-Run Average and Marginal

question 90

Multiple Choice

Below,the graph on the left shows long-run average and marginal cost for a typical firm in a perfectly competitive industry.The graph on the right shows demand and long-run supply for an increasing-cost industry. If this were a constant-cost industry,what would be the price when the industry gets to long-run competitive equilibrium?

• A)between $35 and $20
• B)$35
• C)$20
• D)below $20
• E)above $35

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Definitions:

DEPT-135

An NMR spectroscopy technique that distinguishes between carbon atoms attached to hydrogen atoms, depending on the number of hydrogen atoms (CH, CH2, or CH3).

Quaternary

Referring to carbon atoms bonded to four different groups, especially relevant in organic chemistry when discussing carbon structure and stereochemistry.

Bootstrap Distribution

A distribution obtained by repeatedly sampling, with replacement, from a sample dataset to estimate the shape of the population distribution.

Bias

A systematic error or deviation from the truth in results or inferences, which can occur in the collection, analysis, interpretation, or review of data.