Suppose That for Each Firm in the Competitive Market for Potatoes,long-Run

Multiple Choice

Suppose that for each firm in the competitive market for potatoes,long-run average cost is minimized at 20¢ per pound when 500 pounds are grown.The demand for potatoes is Q = 10,000/p.If the long-run supply curve is horizontal,then how much will consumers spend,in total,on potatoes?

A) $0
B) $500
C) $10,000
D) $50,000