Refer to the Information Provided in Figure 9

question 15

Multiple Choice

Refer to the information provided in Figure 9.7 below to answer the questions that follow. Figure 9.7
-Refer to Figure 9.7. If demand for wheat is D1, then in the long run

• A) the firm will increase its price and output.
• B) the firm will exit the industry.
• C) new firms will enter the industry, and the current firms will expand production.
• D) firms will increase their output so that their average fixed cost per unit falls.

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