Examlex

Solved

Assume That All Firms in This Industry Have Identical Cost

question 107

Multiple Choice

Assume that all firms in this industry have identical cost functions. Assume that all firms in this industry have identical cost functions.   In the long run,there will be ______ firms in this market. A) 10 B) 15 C) 25 D) 50
In the long run,there will be ______ firms in this market.


Definitions:

Premises

Statements or propositions from which conclusions are drawn in logical arguments, serving as the basis for reasoning.

Dependent

Relying on or requiring the support of something else for its existence, validity, or significance.

Social

Relating to society or its organization, focusing on the interactions and relationships between individuals within a community.

Diagramming Method

The diagramming method involves visually representing ideas, concepts, or processes using diagrams to facilitate understanding or analysis.

Related Questions