Solved

In Figure 23

Question 137

Multiple Choice

  In Figure 23.3,diagram  a  presents the cost curves that are relevant to a firm's production decision,and diagram  b  shows the market demand and supply curves for the market.Use both diagrams to answer the following question: In Figure 23.3,at a price of p2 in the long run A) Firms will enter the market. B) Economic profits equal zero. C) Firms will exit the market. D) P = AVC. In Figure 23.3,diagram "a" presents the cost curves that are relevant to a firm's production decision,and diagram "b" shows the market demand and supply curves for the market.Use both diagrams to answer the following question: In Figure 23.3,at a price of p2 in the long run


A) Firms will enter the market.
B) Economic profits equal zero.
C) Firms will exit the market.
D) P = AVC.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions