Consider the Following Total Cost Schedule for a Perfectly Competitive

question 130

Multiple Choice

Consider the following total cost schedule for a perfectly competitive firm producing ball-point pens.
TABLE 9-3
-Refer to Table 9-3.This firm would produce no output in the short run if the market price of its output

• A)dropped below $0.15.
• B)dropped below $0.20.
• C)dropped below $0.30.
• D)dropped below $2.00.
• E)dropped below $3.00.