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The Accompanying Table Applies to a Purely Competitive Industry Composed

Question 265

Multiple Choice

The accompanying table applies to a purely competitive industry composed of 100 identical firms. If each of the 100 firms in the industry is maximizing its profit and earning only a normal profit, each must have an average total cost of A) $2. B) $3. C) $4. D) $5. The accompanying table applies to a purely competitive industry composed of 100 identical firms. If each of the 100 firms in the industry is maximizing its profit and earning only a normal profit, each must have an average total cost of


A) $2.
B) $3.
C) $4.
D) $5.

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