Consider a U-Shaped Long-Run Average Cost Curve That Has a Minimum

question 178

Multiple Choice

Consider a U-shaped long-run average cost curve that has a minimum efficient scale at 6,000 units of output.In this case, this industry would be

• A)perfectly competitive if the market quantity demanded is 20,000 units.
• B)monopolistically competitive if the market quantity demanded is 12,000 units.
• C)an oligopoly if the market quantity demanded is 18,000 units.
• D)an oligopoly if the four-firm concentration ratio is more than 10 percent.

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Definitions:

Microbiome

The collection of all microbes, such as bacteria, fungi, viruses, and their genes, that live on and inside the human body.

Microorganisms

Tiny, often microscopic, life forms, including bacteria, viruses, fungi, and protozoa, that can be found in almost every environment on Earth.

Gut

The gut, or gastrointestinal tract, is the system of organs responsible for digestion and absorption of nutrients, as well as expulsion of waste.

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The cognitive mechanism that allows bilingual or multilingual speakers to switch between languages efficiently and prevent unintended language interference.