Question1
Consider the total cost and total revenue in the following
table:
c). Can you tell whether the firm is in a competitive industry?
If so, can you tell whether the industry is in a long-run
equilibrium?
Quantity 0 1 Total Cost 8 9 Total Revenue 0 8 a) Calaulata nafit fon 2 10 16 entitu. How ma 3 11 24 4 13 32 ld the 5 19 40 Guma 6 27 48 7 37 56
Question1 Consider the total cost and total revenue in the following table: c). Can you tell whether the firm is in a co
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