Below,the Graph on the Left Shows Long-Run Average and Marginal

question 56

Multiple Choice

Below,the graph on the left shows long-run average and marginal cost for a typical firm in a perfectly competitive industry.The graph on the right shows demand and long-run supply for an increasing-cost industry. If this were an increasing cost industry,what would be the price when the industry gets to long-run competitive equilibrium?

• A)between $35 and $15
• B)$35
• C)$15
• D)below $15
• E)above $35

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Definitions:

Internal Organs

Organs located inside the body that perform essential functions such as the heart, liver, and lungs.

Expression Of Emotion

The process by which individuals convey feelings such as happiness, anger, or sadness, through facial expressions, body language, and vocal tone.

Simultaneous Activation

The process of activating multiple systems or processes at the same time.

Freud

Sigmund Freud was an Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.