Figure 13-4 Figure 13-4 Shows Cost and Demand Curves

question 123

Multiple Choice

Figure 13-4 Figure 13-4 shows cost and demand curves for a monopolistically competitive producer of iced-tea.
-Refer to Figure 13-4.Based on the diagram,one can conclude that

• A)some existing firms will exit the market.
• B)new firms will enter the market.
• C)the industry is in long-run equilibrium.
• D)firms achieve productive efficiency.

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