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Suppose the Table Above Represents the Long-Run Cost Structure for a Firm

Question 2

Multiple Choice

Suppose the table above represents the long-run cost structure for a firm in a perfectly competitive industry. Based on this information we can conclude that this firm operates in A) an industry incapable of reaching long-run equilibrium. B) a decreasing- cost industry. C) an increasing-cost industry. D) a constant-cost industry. Suppose the table above represents the long-run cost structure for a firm in a perfectly competitive industry. Based on this information we can conclude that this firm operates in


A) an industry incapable of reaching long-run equilibrium.
B) a decreasing- cost industry.
C) an increasing-cost industry.
D) a constant-cost industry.

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