Exhibit 12-8 the Long-Run Total Cost Schedule of a Perfectly

question 28

Multiple Choice

Exhibit 12-8 The long-run total cost schedule of a perfectly competitive firm that produces walnuts is as follows:
Refer to Exhibit 12-8.If input costs are constant and there are no barriers to entry,the long-run equilibrium price of a pound of walnuts will be about:

• A) $2.00
• B) $2.20.
• C) $2.50.
• D) $2.75.

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