In a Competitive Industry, Each Firm Has a Cost Function

question 8

Multiple Choice

In a competitive industry, each firm has a cost function (for a given set of input prices) .Demand for the industry's output is .The (long run) equilibrium number of firms is

• A)120
• B)58
• C)46
• D)34
• E)29
• F)12
• G)2
• H)None of the above

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The process of analyzing information or arguments in a rational and coherent manner, drawing conclusions based on logic.

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