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. If there are 100 firms in the all-natural ice cream industry, which of the following is a point on the industry short-run supply curve?
Definitions:
Marginal Cost
The increase in cost that arises from producing one additional unit of a good or service.
Competitive Industry
An industry in which numerous producers supply a homogeneous product or service, leading to competition over price and quality.
Marginal Cost
The extra expenditure needed to manufacture one more unit of a good or service.
Average Cost
The total cost of production divided by the quantity of output produced; it's a measure of how much it costs, on average, to produce one unit of output.
Q22: A perfectly competitive firm is a:<br>A) price
Q51: Children's price elasticity of demand for hot
Q111: (Table: Total Cost and Output) Look at
Q120: If some firms in a perfectly competitive
Q185: (Table: Costs of Birthday Cakes) Look at
Q231: The government can reduce the inefficiency associated
Q245: (Figure: The Total Product) Look at the
Q297: At the long-run quantity of output, where
Q338: (Figure: The Monopolist II) Look at the
Q348: Think about running a restaurant. Probably:<br>A) cooks