The Market Demand for Milk Is Additionally,suppose That a Dairy's

question 8

Multiple Choice

The market demand for milk is Additionally,suppose that a dairy's variable costs are (where Q is the number of gallons of milk produced each day) ,its marginal cost is and there is an avoidable fixed cost of $50 per day.In the long run there is free entry into the market.Suppose the demand for milk doubles.What is the new long-run equilibrium quantity?

• A) 50
• B) 60
• C) 100
• D) 120

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Definitions:

-dynia

A suffix used in medical terminology to indicate pain in a specified part of the body.

-itis

A suffix used in medical terminology to denote inflammation of an organ or tissue.

-lepsy

A suffix denoting a condition or form of seizure, such as in epilepsy.

Macula

A small central area in the retina of the eye that is responsible for sharp, detailed central vision.