The Following Figure Depicts the Short-Run Cost Curves of a Perfectly

question 114

Multiple Choice

The following figure depicts the short-run cost curves of a perfectly competitive firm.

-Refer to the figure above.A firm could choose to produce a quantity of 60 in the long run if ________.

• A) this firm could not exit the industry
• B) the firm was experiencing decreasing returns to scale
• C) barriers to entry existed
• D) the firm expected to price to rise in the future

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