Suppose a perfectly competitive firm is producing 500 units of output and has total revenues of $5,000. If this is a lon

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Suppose a perfectly competitive firm is producing 500 units of output and has total revenues of $5,000. If this is a lon

Post by answerhappygod »

Suppose a perfectly competitive firm is producing 500 units of
output and has total revenues
of $5,000. If this is a long run equilibrium, then it must be the
case that
A) marginal cost is less than $10
B) minimum average total cost is less than $10
C) price is $10
D) all of the above
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply