Good W Is Produced in a Competitive Industry with Increasing

question 67

Multiple Choice

Good W is produced in a competitive industry with increasing costs of production.The figure below shows how a typical firm's long-run average cost curve shifts upward as industry output of good W expands.With 50 firms in the industry,each firm faces an identical long-run average cost curve given by LAC.With 80 firms in the industry,each firm faces an identical long-run average cost curve given by LAC'.And with 120 firms in the industry,each firm faces an identical long-run average cost curve given by LAC''. When there are 50 firms in the industry in long-run competitive equilibrium,each one of the firms in the industry produces _________ units of good W.

• A)500
• B)600
• C)800
• D)1,000

---

Definitions:

Positive About Job

Having a positive outlook or attitude towards one's job, usually reflecting satisfaction, motivation, and engagement at work.

Leader's Behavior

Refers to the actions and approaches taken by a leader in guiding, directing, and influencing the team or organization.

Situational Leadership

A leadership style that proposes the effectiveness of a leader is dependent on their ability to adapt their approach based on the maturity level or readiness of their team.

Air Traffic Controllers

These are professionals responsible for the safe, orderly, and expeditious flow of air traffic in the global air traffic control system.