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Question 264

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Use the following to answer question: Use the following to answer question:   -(Figure: Game-Day Shirts) Use Figure: Game-Day Shirts.Rick is one of 10 vendors who sell game-day T-shirts at football games in a perfectly competitive market.His costs are identical to the costs of the other 9 vendors.When the industry is in long-run equilibrium,the price of each shirt will be _____,and the total quantity supplied in the market will be _____. A) $6;0 B) $9;200 C) $11;220 D) $14;240
-(Figure: Game-Day Shirts) Use Figure: Game-Day Shirts.Rick is one of 10 vendors who sell game-day T-shirts at football games in a perfectly competitive market.His costs are identical to the costs of the other 9 vendors.When the industry is in long-run equilibrium,the price of each shirt will be _____,and the total quantity supplied in the market will be _____.


A) $6;0
B) $9;200
C) $11;220
D) $14;240

Correct Answer:

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