Large Barriers to Entry in the Gas Station Business Explain

question 65

Multiple Choice

Large barriers to entry in the gas station business explain why the two only gas stations in a small town:

• A)can earn an economic profit in the long run.
• B)must produce at the minimum average total cost in the long run.
• C)have no fixed costs in the long run.
• D)must produce a level of output such that MR = MC to maximize their profit.

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