Suppose the Table Above Represents the Long-Run Cost Structure for a Firm

question 160

Multiple Choice

Suppose the table above represents the long-run cost structure for a firm in a perfectly competitive industry. Based on this information we can conclude that this firm operates in

• A)an industry incapable of reaching long-run equilibrium.
• B)a constant-cost industry.
• C)an increasing-cost industry.
• D)a decreasing- cost industry.

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Definitions:

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