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Refer to the Information Provided in Figure 8

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Refer to the information provided in Figure 8.11 below to answer the question(s) that follow. Refer to the information provided in Figure 8.11 below to answer the question(s)  that follow.   Figure 8.11 -Refer to Figure 8.11. Assuming the wool market (industry)  is perfectly competitive and the industry consists of 100 firms of identical size, each firm would produce an average of ________ pounds of wool and sell the wool for ________ per pound. A)  50; $0.03 B)  5,000; $3.00 C)  5,000; $0.03 D)  50; $3.00 Figure 8.11
-Refer to Figure 8.11. Assuming the wool market (industry) is perfectly competitive and the industry consists of 100 firms of identical size, each firm would produce an average of ________ pounds of wool and sell the wool for ________ per pound.


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