Figure 12-7 -Refer to Figure 12-7.Suppose the Prevailing Price Is $20 and Is

question 115

Multiple Choice

Figure 12-7
-Refer to Figure 12-7.Suppose the prevailing price is $20 and the firm is currently producing 1,350 units.In the long-run equilibrium,the firm represented in the diagram

• A) will continue to produce the same quantity.
• B) will reduce its output to 1,100 units.
• C) will reduce its output to 750 units.
• D) will cease to exist.

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