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Use the following to answer questions: Use the following to answer questions:   -(Table: Total Cost and Output)  Look at the table Total Cost and Output, which describes Sergei's total costs for his perfectly competitive all-natural ice cream firm. What is the minimum price that Sergei needs to receive for a tub of ice cream to stay in business in the long run? A)  $10.00 B)  $20.00 C)  $33.33 D)  $36.67
-(Table: Total Cost and Output) Look at the table Total Cost and Output, which describes Sergei's total costs for his perfectly competitive all-natural ice cream firm. What is the minimum price that Sergei needs to receive for a tub of ice cream to stay in business in the long run?


Definitions:

Position

The location of something or someone in relation to other objects or individuals.

Endergonic Reaction

A nonspontaneous reaction; a reaction requiring a net input of free energy. Compare with exergonic reaction.

Exergonic Reaction

A reaction characterized by a release of free energy. Also called spontaneous reaction. Compare with endergonic reaction.

Free Energy

The amount of internal energy within a system that is available to perform work, as in chemical reactions and physical processes.

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