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Assume That All Firms in This Industry Have Identical Cost

Question 45

Multiple Choice

Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive. Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive. If S3 is the market supply curve, then in the short run, the profit-maximizing level of output for a single firm in this market is ________ gallons per week. A) 0 B) 200 C) 400 D) 8000 If S3 is the market supply curve, then in the short run, the profit-maximizing level of output for a single firm in this market is ________ gallons per week.


A) 0
B) 200
C) 400
D) 8000

Correct Answer:

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