Suppose That (1)LRATC Is Minimized at $60 When 30,000 Units

question 8

Multiple Choice

Suppose that (1) LRATC is minimized at $60 when 30,000 units are being produced,(2) the quantity demanded at a price of $60 is 150,000 units,and (3) there are currently 10 firms producing in the market.Then,

• A)we should expect competition to result in a decrease in the number of firms
• B)we should expect a natural monopoly to emerge
• C)we should expect some existing firms to divide up into smaller firms.
• D)the LRATC curve will shift upward in the long run
• E)the LRATC curve will shift downward in the long run.

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Definitions:

Testosterone Levels

The concentration of the hormone testosterone in the bloodstream, which plays a key role in male physical features and reproduction.

Estrogen Levels

The concentration of estrogen hormones in the body, which play key roles in the reproductive system of females and influence other bodily functions.

Ovulation

The release of an egg from one of a female's ovaries, an essential part of the menstrual cycle related to fertility.

Sex Hormones

Biologically active chemicals that regulate the development and functioning of reproductive organs and sex-specific characteristics in animals, including humans.