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Suppose That the Market for Ice Cream Sandwiches Is Perfectly

Question 91

Multiple Choice

Suppose that the market for ice cream sandwiches is perfectly competitive. Firms that produce ice cream sandwiches are identical; they have long-run cost functions given by Suppose that the market for ice cream sandwiches is perfectly competitive. Firms that produce ice cream sandwiches are identical; they have long-run cost functions given by . The quantity at which average total cost is minimized is ____. A) 4.5 B) 3.5 C) 2.5 D) 1.5 . The quantity at which average total cost is minimized is ____.


A) 4.5
B) 3.5
C) 2.5
D) 1.5

Correct Answer:

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