Figure: Entry Exit Refer to the Figure

question 21

Multiple Choice

Figure: Entry Exit Refer to the figure. This competitive firm operates in a constant cost industry. The current market price is $15. What is the long-run market price?

• A) $6.15
• B) $12
• C) $15
• D) $20

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Definitions:

Plate Boundaries

The edges where two or more tectonic plates meet, often associated with seismic and volcanic activities.

Plate Boundaries

The edges where two tectonic plates meet, characterized by significant geological activity such as earthquakes, volcanoes, and mountain building.

Red Triangle

The Red Triangle refers to a geographic area in the Pacific Ocean off the coast of Northern California, noted for a high number of great white shark attacks.

Plate Boundaries

The edges where two tectonic plates meet, characterized by seismic and volcanic activity due to plate interactions such as divergence, convergence, or transformation.