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Question 67

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Use the following to answer questions:
Figure: Game-Day Shirts Use the following to answer questions: Figure: Game-Day Shirts   -(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. If the industry is in long-run equilibrium, the price of each shirt will be: A)  $6. B)  $9. C)  $11. D)  $14.
-(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. If the industry is in long-run equilibrium, the price of each shirt will be:


A) $6.
B) $9.
C) $11.
D) $14.

Correct Answer:

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