Answer
Option A
the average total cost is the same over the output
ATC=TC/Q
ATC of all the output should be the same
ATC(100)=100/100=1
ATC(150)=150/150=1
ATC(200)=200/200=1 and so on
so option 1 is correct
A constant-cost industry is one in which: constant-cost industry is one in which: 100 units can...
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Refer to the figure above. Assume this firm is in a
constant-cost industry. For this firm to be in long-run
equilibrium, the firm must be producing
Group of answer choices
a) q1 units of output.
b) q2 units of output.
c) q3 units of output.
d) an amount that is indeterminate from this information.
Cost curve for a firm in a perfectly competitive industry SRACZ SRMC1 SRAC, SRMC, SRMC3LRAC Price per unit 1 / SRACZ 91 92 93 Units of...